Recruitment Consulting Vs. DIY Hiring: A Cost-Benefit Analysis

The business costs are real; hence, when you want to expand your team, you have two options. First, you have to do it yourself by sending out a requirement, shortlisting, and screening the candidates to conduct various interview rounds. The other option is to contact a recruitment agency, and they can do the needful for you.

Comparative Study – Recruitment Consulting Vs. DIY Hiring

When you outsource your requirements from a catering requirement, to a more experienced London based pr agency, you will see that, in many cases, it helps reduce the cost per hire and adds value to your business. The consultant services offer the following benefits to you:

The rate of hiring increases.
There is better convenience as you can focus on other business commitments.
The right agency will offer a structured process.
The flexibility rates are high.

Usually, the process takes 15-25 hours to complete and is divided into 2-3 weeks. If you choose a recruiter, the cost lies between 15-25% of a candidate’s first-year salary. The bracket is applicable for recruiters who fill the permanent job posts. Also, the businesses on self-recruitment have to bear costs based on factors like the company size, industry, position type, level of work, and the generic location of the office.

But, you have to consider other factors that can help you decide.

You need the resources to handle the applicants that will apply to the opening.
The comfortable timeline to fill the vacancy without hampering the business productivity.
The management strategy for handling the increased workload.
The contingency plan and the strategy to manage customers without the required number of people.

Also, the work that needs to be done and the kind of expertise you require are additional factors you must consider while making the decision. The steps you have to undertake to fill the position are many, and if you dedicate yourself to the same, it can delay your professional work, and hence, the costs can go high.

However, when you choose recruitment consulting services, there are many myths that you find yourself becoming a part of. The most common myth is that recruitment expenses reach sky-high when you get it done from an agency.

But that’s not true. If you are juggling these options and it’s hard to make a choice, you should consider doing a cost-benefit analysis of the options.

Consequences Of Inappropriate Hiring

Did you know an inappropriate or bad hire will cost you 2.5 times the employee’s salary? It is standard for all positions, but the figures can go high, especially when filling a high-level position. So, you must be careful when you choose to recruit yourself.

You gain an edge with recruitment consulting agencies as you can communicate your requirements and also, they are dedicatedly in a better position to fulfill the same. It is their job, and they have different ways to do it.

Conclusion

The benefits of recruiting the right person are the key to driving any business towards growth and profits rather than anything else. A qualitative mode of having the right person on board is an additional factor; hence, you should choose wisely. A recruitment agency has different ways of meeting the needs, and the costs are also less. Hence, they should be considered.