The cost of hiring and firing any employee is astronomical when counting the expense of time spent, and the psychology of a failed choice. Between the cost of onboarding, training, coaching, staff time, wasted salary, and administrative costs, HR professionals project that an organization can easily spend thousands of dollars on a hire that has gone wrong. Most so called bad hires should not have happened in the first place.
Given that the cost of a hire that’s gone wrong—generally estimated to be anywhere between $4,000-$12,000—it’s hard to understand why you wouldn’t use a professional recruitment agency.
Eight Reasons Why You Should Hire a Professional Recruitment Agency
1. Increased Probability of Success
Managers do not hire staff often enough to become experts in the field. Whereas, a good recruiter brings to the table a high level of expertise in recruiting and employment law, an extensive candidate network, and experience in the marketplace – skills that most do not have. There is no greater stress to staff or an organization than hiring poorly. Professional recruiters increase your probability of success.
2. Save Time, and Time is Money
The more time it takes to find the right person to hire, the more costly it becomes. A vacancy that is left open for more than a few weeks becomes a liability for an organization as work slack is taken up by other members of your staff, or things do not get done, and strategies may be put on hold. All this costs you in the end. On average, a good professional recruiter can speed up your hiring process by 30%-50%.
3. Find Hidden Candidates
Many excellent candidates may not be candidates at all—meaning they are not actively looking for a job because they are already employed. These individuals are called Hidden Candidates. Professional recruiters know where great talent is, and can see when potential exists between your organization and an individual who may not be actively engaged in looking for a job.
4. Gain More Reach Beyond What Boards Can Provide
Your Board of Directors is a blessing, and is good at many things from strategy to fundraising. Most boards however, do not have sufficient nonprofit contacts or market reach to find the broadest and best of market candidates for Executive Director, CEO/President, and other senior level positions. Professional recruiters make it a point to know the best and brightest in the market.
5. Make Diversity More Than Talk
Every nonprofit, like their for-profit brethren, is or should be, focused on and executing diversity and inclusion strategies. This applies to job searches as well as staffing policies. Professional recruiters represent and proactively engage with diverse communities and candidates on a daily basis. Not only does this expand your talent pool, but the recruitment firm can help your organization identify opportunities and HR practices to ‘walk the talk’.
6. Reach the Emerging Millennial Leaders
Millennials are increasingly moving into leadership roles or being cultivated to move into leadership positions. Millennials hold almost 20% of management jobs. By 2020, Millennials will make up 50% of the workforce. These individuals bring with them new skills and new priorities. Professional recruiters have been tracking and engaging with emerging leaders for some time, and are positioned to tap talented Millennials quickly.
7. Tap For-Profit Professionals
An increasing number of executives are opting to leave for-profit corporations to work in the nonprofit sector. Although this trend is often assigned to Millennials, or Baby Boomers evaluating life-options, the reality is that nonprofit organizations need the same skill sets as for-profits in areas such as marketing, finance, IT, and management. Nonprofits, in a highly competitive talent environment, are more willing to consider bringing proven for-profit professionals into key roles within the organization. Good recruiters have recognized the trend and aggressively developed a skilled talent pool of individuals who are actively or passively watching for opportunities to make the jump to an organization like yours.
8. Avoid Mistakes that are Costly
A good recruiter will give you good service, understand your organization’s needs, and find you the talent you really need and want. All this, and your organization has no risk since you are guaranteed a replacement if something does not work out. Basically, it’s a guaranteed do over if necessary.