Small businesses compete directly with their larger counterparts when it comes to attracting staff. There is only one talent pool and inherent benefit the big guys enjoy that can make a small company feel like a tiny fish in a huge pond. Large businesses may have the advantage of legions of recruiters, vast advertising networks, opportunities for advancement, etc., however that doesn’t have to translate into recruiting doom for your business. A professional recruiter can help you attract the right talent, retain them longer, and level the playing field a bit. Let’s take a look at three advantages you can gain from working with a recruiter.
We are all aware of the costs involved in hiring a new employee, but what about the costs of hiring the wrong employee? Hiring the wrong person is extraordinarily expensive with costs affecting both the bottom line and intangibles. According to the Society for Human Resources Management bad hires can cost as much as five times the annual salary of the mismatched employee.
Loss of productivity from a vacant position.
Loss of productivity while training a replacement.
Costs of freelancers or overtime to bridge the gap.
Time processing employees exit (payroll, exit interview, etc.)
Lost customers due to understaffing.
Potential severance pay.
Potential unemployment benefits.
Recruiting costs (advertising, interviewing, drug testing, responding to candidates, etc.)
Employee orientation costs.
Time processing a new employee for payroll, benefits, etc.
Damage to your company’s reputation.
Loss of a former employee’s network.
A professional recruiter can help you avoid making an expensive bad hire.
Your recruiter has access to in-depth data and information about the job market and they know what it takes to land the right recruit. They can help you design attractive benefits and competitive salaries to attract and retain the right employees.
Time is Valuable
Recruiting can be especially challenging for a small business. When you are locked into trying to find your next employee you may not have enough time to focus on other critical parts of the business. Working with a reputable recruiter can free up your time so you can keep the business running.
It’s not just your time that is valuable. Your team members may also be impacted. If you had an unexpected vacancy it is likely that your other employees are having to shoulder the workload until the position is filled. This could result in excessive overtime, lower morale, and decreased quality. A recruiter can help you fill your vacancy faster, and even provide you with temporary staffing during the process.
Danielle Foppe is a Recruitment Manager at Business Centric Technology. If you are interested in learning more about how to get the best IT talent in the Dallas metroplex, contact Danielle specializes in recruiting IT talent in Dallas, Ft. Worth and North Texas. If you are looking for a rewarding career contact us today.