Talk to any executive level professional or Human Resources professional and they will tell you the number one challenge in their organization is finding the talent they need to achieve their objectives.
In the war for talent, talent has won. So now what? Many organizations look to external experts that offer different solutions to find talent.
Using the following solutions at the right time and situation will help you be effective and be the most cost effective.
Contingency recruiters, often called "headhunters," will search and screen candidates that meet your criteria. They typically specialize in certain markets to develop a network of professionals to choose from when they get receive a job order. You do not pay for their services until they are successful in placing a candidate. Fees generally range from 25%-35% of the candidate's first year salary.
WHEN TO USE: When you have 1 or 2 very niche position per year. Relying solely on contingency recruiting can be very costly.
A contract recruiter is a dedicated resource assigned to your organization. The contract recruiter is an onsite contract employee working on your behalf. The cost structure involves a monthly fee to pay for the assigned resource.
WHEN TO USE: When you have a well development recruiting process with a high volume of requisitions.
A staffing agency places talent on a temporary, temp-to-hire, permanent hire basis. Staffing agencies usually specialize in specific employment categories such as light industrial, office/clerical and/or professional. Staffing agencies have a pipeline of candidates in those categories so they can place candidates quickly. The cost structure includes a markup percentage to the contract employee's hourly rate and calculated by the number of weekly hours.
WHEN TO USE: When one of your current employees is out on leave or when you need to staff a project very quickly.
Recruitment Process Outsourcing (RPO)
Recruitment Process Outsourcing (RPO) typically is used in large organizations whereby the RPO replaces the recruiting function or takes over recruiting for a major segment of the business. The resources typically work in the RPO's office and the services are performed remotely. The cost structure entails a monthly fee as well as fees for opening and filling each requisition.
WHEN TO USE: RPOs typically work with organizations that have greater than 300 requisitions annually.
Recruitment Process Insourcing (RPI)
Recruitment Process Insourcing (RPI) is a blended approach that allows organizations to leverage the RPI's expertise on their behalf. A dedicated resource is assigned in a sourcing or full life cycle capacity while fully representing your organization. The assigned resource(s) utilizes the most effective sourcing tools and technology that your organization might not otherwise be able to afford. The RPI model is scalable and flexible that can be implemented on a project basis or be an on-going strategic partner. The dedicated resource has access to a sourcing and analytics team and is managed by a program manager. The cost structure is fully customizable based on the needs of your organization.
WHEN TO USE: The RPI model is effective with organizations that recruit on 5 - 150 requisitions annually. You can implement an RPI model to be your talent acquisition team, augment your current team or when you encounter very tough to fill positions that require a sourcing expert.
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