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Soulidify

5 Ways Recruitment Firms can help you save your recruitment costs

Written by: Greg Weiss

While Soulidify is known for its capability in recruiting operational other halves to business Visionaries and founders, aka their ‘ make things happen leaders’ the firm is also a member of NPAworldwide, a vast network of owner-managed recruitment firms spanning the planet.  I often get asked why small-to-medium-sized businesses (SMEs)  should use recruitment firms, instead of themselves. Here are 5 reasons why you should consider employing a recruitment firm like Soulidify.

1. Reduced Time to Hire

Reduced Time to Hire
According to a survey by Indeed, the average time to fill a vacancy in Australia is 45 days. However, companies with strong recruitment processes can reduce the time to hire by up to 50%, according to a study by Bersin by Deloitte. For example, Atlassian, an Australian software company and employer of choice, has a recruitment process that takes an average of 28 days from application to offer.

Retained recruitment firms, with their pool of qualified candidates and expertise in recruitment, can help Australian employers reduce their time to hire and improve their recruitment processes.

2. Access to a Wider Candidate Pool

Access to a Wider Candidate Pool
 According to LinkedIn, only 30% of the global workforce is actively looking for a job. This means that Australian employers may miss out on high-quality candidates who are not actively seeking employment. For example, Google Australia, an employer of choice, has a recruitment team that includes sourcers who proactively seek out and engage with passive candidates.

Retained recruitment firms can similarly provide access to a wider pool of passive candidates through their networks, databases, and resources.

3. Expertise in Recruitment

Expertise in Recruitment
According to a report by the Australian Human Resources Institute, the cost of a bad hire can range from $7,000 to $10,000 for a junior employee to up to $75,000 for a senior executive. Retained recruitment firms can reduce the risk of making a bad hire and the associated costs through their expertise in recruitment. For example, Westpac, an Australian employer of choice, has a dedicated talent acquisition team that includes recruiters with specialized skills and experience.

Retained recruitment firms can similarly provide expertise in recruitment and help Australian employers improve their recruitment processes.

4. Better Negotiation Skills

Better Negotiation Skills
According to a survey by Hays, 48% of Australian employees have never negotiated their salary. This means that many employees may be leaving money on the table. For example, Atlassian, an Australian employer of choice, has a compensation philosophy that aims to pay its employees at the top of the market.

Retained recruitment firms can similarly provide better negotiation skills and help Australian employers attract and retain top talent by offering competitive compensation packages.

5. Reduced Risk of Hiring Mistakes

Reduced Risk of Hiring Mistakes
According to a survey by Robert Half, 80% of Australian CFOs said that a bad hire can impact team morale. Additionally, the cost of a bad hire can range from $7,000 to $75,000, according to the Australian Human Resources Institute. For example, BHP, an Australian employer of choice, has a rigorous recruitment process that includes behavioral-based interviews and psychometric testing.

Retained recruitment firms can similarly provide a thorough recruitment process that includes background checks, reference checks, and skill assessments to reduce the risk of hiring mistakes for Australian employers.

In conclusion, retained recruitment firms, like Soulidify can provide valuable benefits to Australian employers, including reduced time to hire, access to a wider candidate pool, expertise in recruitment, better negotiation skills, and reduced risk of hiring mistakes. By partnering with a retained recruitment firm, Australian employers can improve their recruitment processes, attract and retain top talent, and ultimately save recruitment costs.

And by being part of the NPAWorldwide, Soulidify can help you with any recruitment need by introducing you to specialist recruiters we know can deliver your need, anywhere around the globe.

Greg Weiss

Book a Free Initial Consultation on Sourcing Operational Leaders from One of Australia’s Most Respected HR and Recruitment Consultants

At Soulidify, we are a highly regarded retained recruitment firm, that specialises in Operations Manager recruitment and General Manager recruitment. It’s our mission to find a visionary’s perfect Operational half-match, so any business can experience disciplined scaling and growth. It can truly be magic.

We are also a member of NPAworldwide which means we can help you with your recruitment needs anywhere on any continent.

Call us today for a free consultation.

ABOUT THE AUTHOR

Greg authored 3 practical Career Books, and 1 Book helping Visionary leaders scale their businesses. He is one of Australia’s most experienced HR consultants and leading career coaches. He is the founder and owner of Soulidify and Career365. As an entrepreneur/business owner, Greg has experienced first-hand the joys and frustrations of starting and growing one’s own business.

You can find him on LinkedIn or Linktree.