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Staffing marketplaces: 4 ways they help Recruiters increase their billings

RecruitAlliance.comFor talent acquisition professionals, recruiting marketplaces (also referred to as Vendor Management Systems from the Employer side) are websites where companies post their fee-eligible jobs and recruiters submit their qualified candidates.  The job posting employers update the candidates’ status in the marketplace, as they move through or are rejected from the hiring process.  How can recruiters leverage this emerging trend to make more placements and earn more money per year? Let’s take a look at the top 4 ways staffing marketplaces help recruiters increase their billings, while reducing the need to make additional business development calls.
  1. Jobs posted in marketplaces are real openings with urgent needs.  One of the most exciting parts of a recruiting marketplace is the fact any participating employer must post their fee-eligible jobs.  Employers agree (per terms and conditions of participation) that the job is a confirmed opening.  When recruiters work outside of a web-based platform, they may receive a job order, but once a candidate is submitted the recruiter never hears back.  Recruiting marketplaces help to ensure search professionals spend less time working on unqualified jobs.
  2. Recruiters can view hiring stats on the Employer, prior to submitting their candidates. Most marketplaces provide access to valuable data on the employer that shows how long they’ve been a member, how many jobs they’ve posted, what their average time is to provide feedback, and how many hires they’ve made through the marketplace.  When a staffing specialist sees an employer who is not receptive to candidate submissions, they can determine the value of that job order to their agency.   This insight allows the recruiter to focus on job orders they know they can fill, and thus increase revenue.
  3. Marketplace websites track all candidate submissions and hires. Outside of a marketplace, recruiters may email, fax or verbally present a candidate to the hiring manager.  That candidate may not be hired immediately, but months later the employer can opt to move forward.  If the recruiter is not tracking all of their past candidate submissions, this scenario can create high financial loss for an agency.  With staffing marketplaces, all activity by both recruiters and employers is tracked and managed, to keep all parties in compliance with the rules.
  4. Streamlined billing and payment system. Many recruiters find their Clients’ invoicing and payment process to be lengthy, and designed to hold up payment to the recruiter.  When working through a recruiting marketplace, most offer billing and invoicing that can be completed directly through the website—saving all parties time and money.  Instead of jumping through hoops to collect their fee, recruiters can spend only a few minutes to see that their invoice is submitted and know when they will receive their payment.
Recruiting marketplaces or Vendor Management Systems are quickly becoming the preferred way third-party agencies connect with top employers to gain access to their fee-eligible job orders.  While some recruiters feel they are giving up an element of control in the recruitment process, others are finding it’s an efficient and effective way to make more placements in less time—all while increasing their billings year over year.   RecruitAlliance is a recruiting marketplace that has been in business since 2001.  Recruiter members gain access to job orders with exceptional companies like Wells Fargo, Bayer, Wesco, and many more.  To learn more, visit http://www.RecruitAlliance.com.
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