In the current climate, saving money has never been more key. With the uncertainty surrounding the British Pound following the Brexit referendum. How will it affect the economy and our recruitment industry? In this guest blog Blue Octopus gives you some simple hints and tips on how to create a cost effective in-house recruitment solution that saves you both time and money, whilst still getting the best results.
The first thing that you need to do is recruit an in-house recruiter. This doesn’t necessarily have to be someone with any prior knowledge of your industry, but it would be advantageous to recruit someone with experience in that sector and proven experience in the role. In many ways, this could be your most important hire, so chose carefully!
Pro’s : Recruiting someone who will work day in day out within head office and will have an understanding of the businesses needs.
Cons : The overhead of paying a salary, however, in the long term this will be more cost effective than paying placement fees for all your candidates.
Now that you have your own in-house recruiter as part of the team, it is time for them to start hiring! How does this compare to using an agency? When it comes to finding the correct talent for any advertised roles, the knowledge which the in-house recruiter has built up over time regarding the business and how it operates, will outweigh that of any agency.
Pro’s : Knowledge of the business and dedicated time to understanding the hiring need.
Cons : With an in-house recruiter they will not always have the best job board reach and contact base, this may limit the advertising reach. Over time the in-house recruiter will be able to build up a talent pool and gain a strong knowledge of which jobs boards work best.
Advertising the role on job boards is not a cheap thing to do by any stretch, but it must be done to achieve results. An agency will have access to multiple job boards and a huge talent pool of registered candidates, which will give them an advantage when it comes to how many potential candidates see and apply for the role.
Pro’s : The bigger the budget, the bigger the reach of your advertisement.
Cons : Not having access to the same amount of talent which an agency can be limiting.
Once you have filtered through your applicants, the next step is shortlisting. Having been heavily involved in the recruitment process thus far, the in-house recruiter will have a good understanding of the candidates getting booked in for interview.
Pro’s : Having been in control of the process from the beginning.
Cons : The volume of applicants will not be the same as an agency. It will take time to filter through all the candidates.
You have now completed the interviews and offered the most suitable candidate the position. It has been a journey that you have been a part of from the beginning and have seen the progression of your new recruit.
Pro’s : Huge cost saving on agency fees, control of your recruitment process.
Cons : Possibly missing out on a better candidate due to smaller talent pool.
Using an agency has its positives, as you can imagine, the huge database of talent which they have at their disposal is by far the main one. However for a far more cost-effective solution, bringing in an in-house recruiter on board must be seen to be a good thing.
There are now a wide range of recruitment providers out there who offer a cost-effective recruitment solution to work alongside your in-house recruitment team, such as Blue Octopus.