How does outsourcing recruitment/new hire support help employers?
Recruitment is becoming both much more sophisticated and much more difficult. According to the Society for Human Resource Management,algorithmic recruiting is taking off – that is, combining Big Data, analytics, and artificial intelligence to identify, review, and select job candidates. But that kind of recruiting requires specific expertise even beyond the normal recruitment processes. Yet employers may have little choice but to get advanced in their employee searches if they want to stay ahead of the oncoming shortfall of 85 million qualified workers that research and advisory firm McKinsey and Co. expects by 2020. Altogether, it’s a lot to handle – and that’s where outsourcing recruitment comes in.
What does recruitment and new hire support outsourcing include?
Any recruitment partner should offer a full range of services designed to help you build a high-performing, low-turnover team that delivers both exceptional results and lower recruiting costs. That can include:
• Advanced sourcing strategies
• Tailored and compliant background screening
• Application and interview procedures
• Drug testing
• Salary and pre-employment assessments
• Onboarding toolbox and support
What can employers reasonably expect after outsourcing recruiting?
More effective recruiting: Sometimes a skilled, high-performing worker who is also a good fit can seem like a unicorn: a mythical creature that’s impossible to find. Then, hiring them can seem like opening a Pandora’s box of regulatory, employee engagement, and people management concerns. Modern recruiting managers can use cutting-edge practices and technologies to ease these problems.
More insightful recruiting. The HR Daily Advisor’s 2017 Annual Recruiting Survey found that relatively few employers keep track of key recruitment and new hire metrics. Only a quarter (26%), for example, track cost-per-hire. More employers track other metrics – time-to-fill, quality-of-hire, etc. – but huge numbers still falter in this area. Outsource partners for recruitment, onboarding, and people management capture and analyze this information as a matter of course. “Sourcing systems are becoming much more intuitive and can pick up on certain cues that will give employers a whole new level of insight,” Eric Presley, chief technology officer at CareerBuilder, an online job board website, told the Society for Human Resources Management.
More cost-effective recruiting: As with other outsourced functions, businesses gain access to higher caliber services delivered by subject matter experts at lower costs than they could accomplish themselves, and at much lower cost than trying to handle these functions in-house. Further, PEOs can consolidate and flatten an array of employer-related costs into a single condensed expense.
Less stressful recruiting. Aside from the recruiting headaches described above, many aspects of dealing with prospective and new employees can range from tedious to anxiety-provoking. It can be difficult to navigate what you can and can’t say, unpleasant to deal with negotiations, overwhelming dealing with too many unqualified candidates, and anxiety-provoking about filling the most important roles. That last point is more important than it might seem at first glance. Respondents to HR Daily Advisor’s study found that employers were most successful at recruiting entry-level workers. Higher-level recruiting was far less likely to be successful.
Need more information on recruitment and new hire support? CoAdvantage, one of the nation’s largest Professional Employer Organizations (PEOs), helps small to mid-sized companies with recruitment, employee engagement, HR administration, benefits, and payroll. To learn more about our ability to create a strategic HR function in your business that drives recruitment and lowers turnover, contact us today.