In today’s uncertain job market, recruitment firms are making hay while the sun shines. As employers search desperately to fill skill shortages in their companies in order to stay afloat in the market, recruiters have emerged as the kingpins in the employment game. Recruiters typically charge anywhere from 20 to 35 percent of the starting salary of the employee. The entire recruiting process is usually a long and time-consuming one, often taking months and months to find the right candidate. The format of recruitment fees varies from job to job and from client to client. Some recruitment agencies carry out ‘contract searches’ for specific positions at a fixed, pre-set rate, usually for the top level positions. Another option before companies is to hire a recruitment firm on a monthly fee basis for filling its job vacancies.
Start-ups and small medium enterprises (SMEs) are usually caught between the devil and the deep blue sea. Hiring the right and suitable employees is often a daunting and time-consuming task, with the former often compromising on quality in favour of cost. The experienced candidates come at a steep salary and recruitment firms charge their own hefty fees.
That’s when outsourcing is seen as the perfect bailout option by these companies, already battling financial constraints. But, the obvious low costs of offshore talent isn’t the only cost savings. An oft-ignored fact when offshoring is the savings on huge recruitment fees that companies are forced to part with when they rely on recruitment firms for filling job vacancies. Clients purely focus on salary costs and forget the cost of actually finding people.
When conducted locally, recruitment can seem like a daunting activity, a time and resource-guzzler that yields results after months of tireless efforts. But outsourcing cuts down all that effort and resources and gives the desired results sooner rather than later.
In the UK, the average recruitment cost of filling a vacancy is approximately around £4,500. The fees are calculated on the annual salary that has been fixed for the candidate.
That’s not all. There are different slabs even among the recruitment fees. The range includes temporary worker fees, temporary to permanent worker fees and, finally, the permanent worker fees. An employer in the UK or the US has to bear these high costs even for a temporary hiring.
Acknowledging the simple rule of demand and supply, the Society for Human Resource Management (SHRM) observed that recruiting costs are also impacted by how rare or specialized a particular skill set is. Certain job categories lend themselves to a small labour pool. Consequently, an employer wanting to hire someone with these with hard-to-find skills may have to end up paying a hiked recruiting cost. For example, when recruiters have a tough time finding the right candidate, as in the durable goods manufacturing or the publishing industry recruiting fees obviously go up.
On the other side of the coin is the intense rivalry between companies as they vie with each other to net the best candidate – especially when the skills are rare and the talent pool a limited one. Higher the challenge and the difficulty before the recruiter in finding the right candidate, higher the recruitment cost.
Enter VirtualEmployee.com. The remote staffing specialist in India has a highly skilled and vastly experienced HR team that is adept in ‘fitting the right candidate to the right client’. No matter what the domain or how rare and specialized the skill set required, VirtualEmployee.com’s recruitment managers can cast their net far and wide and zero in on the perfect candidate. Grateful and satisfied clients have expressed surprise at the ‘negligible recruitment fees’ in return for candidates who are exactly what they were looking for. Back home in the US or the UK, many SMEs and home business owners have had to either part with these high recruitment charges or else have had to settle for freelancers or go without that skill altogether even when required urgently.
The recruitment process at VirtualEmployee.com is so client-centric that resumes are sent for free and in high volumes till the client is satisfied with the candidates they wish to hire. And the charges range from free to negligible.