Archive for May, 2015

5 innovative ways to ensure your external Recruiting Partners are looking out for your best interest

Comments Off on 5 innovative ways to ensure your external Recruiting Partners are looking out for your best interestWritten on May 27th, 2015 by
Categories: Corporate Recruiters, Human Resources
RecruitAlliance - Total Recruiter Management SolutionRecruiting Agencies deliver top talent, when your internal team cannot.

It's always interesting to hear how HR and Corporate Recruiters feel about relationships with third-party staffing and search agencies. If you've ever had a hard-to-fill position, you probably reached out to a local agency to utilize their assistance. You may feel like outside Recruiters waste your time, send you poor candidates, and charge too much when a placement is made. In reality, staffing and recruitment professionals specialize exclusively in sourcing top talent, and have the ability to pick up the phone to connect directly with your competitor's best employees--on your behalf. There are no job boards, social media sites, email campaigns, or other methods of recruitment that provide a more powerful means of hiring 'spot on' talent than leveraging a recruiting firm.

How strong are your partnerships with third-party recruiters? What can you do to build quality business relationships, versus one of mistrust by both parties? How can organizations ensure their third-party recruiting partners will continue to supply them with top talent, instead of utilizing them as a candidate source?

Here are five proven ways to have recruiters beating down your doors to refer you the best and brightest candidates.

1. Create an environment of open communication with your partners. Imagine being tasked with finding a needle in a haystack, but you don't know what a needle is. Recruiters are provided with countless, meaningless job descriptions and asked to find the right person. If you want results, you have to articulate the intricacies of each position, and realize that questions will come up as they interview prospective candidates. Responding to email inquiries on a timely basis can be the difference between making a hire and hiring the most qualified candidate available in the market.

2. Offer recruiting partners a competitive fee, or risk becoming a candidate source. If you really think about it, why would you want to negotiate fees with third-party agencies if the search is only contingent? You're not required to hire the referred candidate, and in the event the recruiter does present your ideal next hire, you know they deserve to be compensated accordingly. Remember, the value external recruiters bring to your company is passive talent. These are people you don't otherwise have access to. If you're not willing to pay for top talent, or you attempt to underpay your search partner, they have the option to walk away from future searches for your company.

3. Evaluate and adjust whether other parties receive a portion of your Recruiter's fee. Do you post your fee-eligible jobs on a Vendor Management portal that takes a portion of the Recruiter's fee when they make a hire? Some popular VMS's take as much as 25% of the full fee--making working your search much less attractive. If a search professional has the option of referring an exceptional candidate to their client who pays them 100% of the fee, or to you--where they must give up 25% of their billing, can you guess who will receive the candidate? Always seek out Vendor Management Solutions who honor your recruiting vendors, with a business model that is mutually beneficial to all parties involved.

4. If you hire a candidate during the guarantee period, don't forget to pay the Recruiter. Unless you're engaged in a retained search, your recruiting partner is working for free--pending the chance that you hire their referral. When you end up hiring their candidate for another requisition, but have not been in communication with the recruiter, do the right thing, unless your contract states otherwise. A quick email letting them know you hired their candidate speaks volumes about the value of your partnership, and if the agency finds out you ended up making a hire without contacting them--you can bet you will become a candidate source.

5. Dealing with agencies can be cumbersome, unless you implement a Total Recruiter solution. RecruitAlliance integrates with your ATS, is a stand-alone VMS, and can empower your organization to reduce costs, manage workflow, and improve your recruiting process. Recruiters love the platform, because they never have to give up a portion of their fee--this means you can tap in to the top tier talent pool, seamlessly. To learn more about their Total Recruiter Management solution, click here.

The process of working with external recruiters successfully continues to challenge organizations across all industries. Begin utilizing the five essential tips provided in this article, and you'll be capable of transforming your talent--ulitmately improving your commpany, on a holistic-level.

Quality of Hire versus Time to Fill: The Formula to Improve Talent Acquisition

Comments Off on Quality of Hire versus Time to Fill: The Formula to Improve Talent AcquisitionWritten on May 22nd, 2015 by
Categories: Corporate Recruiters, Human Resources, Third-Party Recruiters
RecruitAlliance - Metrics Matter

One of the most essential recruiting questions a company can ask is "How long does it take to fill each open position?" After all, every day a position is left open, the company is either losing money or not addressing a business issue. It stands to reason, the faster recruiters can fill positions, the better they can serve the business as a whole. Metrics like “time-to-fill” and “cost-per-hire” only tell us about the process, not its impact. What matters most is how new hires perform and how much they contribute to your organization’s growth and goals.

Gaining Insight from the Numbers

Once you determine which positions are taking longer to fill, you should then investigate the factors responsible for the slowness. Here are several common situations that typically lead to a drawn-out time-to-hire:

  • Hiring managers may not be reviewing candidates as quickly as necessary.
  • Recruiters may not be following up with candidates in a timely manner.
  • Recruiters may not be posting on the most relevant job boards for the position.
  • Job requirements may be too lofty, driving away candidates before they apply.
  • Adddressing these issues can create immediate positive results for your recruiting strategy.

    The quality of hire metric can take your team from reporting straight stats to reporting on effectiveness. By simply working with your finance department and CFO, quality of hire metrics can be use to support and make strategic decisions, while supporting HR in the boardroom in ROI-based discussions.

    Because of its organizational impact, quality of hire is a more important metric to track than time to fill or cost per hire.

    Balancing out the metrics your HR and Recruiting department measures can be challenging for any organization. Remember, any metric tied to the bottom-line should be a priority. Here are some ways you can leverage the Quality of Hire metric, to further increase revenue across the enterprise.

  • Work with finance to translate the ROI in dollars, the impact of having a top performer vs. an average performer on organizational productivity and revenue per employee. This knowledge can help support further investment in recruitment, onboarding and training.
  • Modify your job descriptions to reflect performance outcomes expected rather than skills and competencies required.
  • Ensure your corporate culture is transparent, to support candidate self-screening.
  • Use of panels, multiple interviewers, relevant behavioral-based questions, use of interview scoring sheets, and interview training for hiring managers.
  • You can measure the health and effectiveness of a company’s entire recruiting and hiring process by focusing on making changes to improve the process. If a recruiting leader gets these under control, quality per hire will soar, cost per hire will decline and time-to-fill will shrink. Implementing the suggested changes will not only improve the talent acquisition function, but can ensure organizational success.

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