A recent study by Oxford Economics found that it cost the average UK company around £30,000 to recruit and replace a lost staff member. A staggering £1,800 was spent on average in recruitment alone. Finding the right staff member is essential, get it wrong and the repercussions can be far reaching. After all, the biggest problem could be your new team member leaves and you have to recruit someone else, re-train and bring them up to speed. In a nutshell, this not only costs you valuable time, but it costs you money as well as potentially upsetting the dynamics of your team. It pays to get it right the first time. Effective, focused advertising will ensure you are one step ahead of the competition when it comes to finding the perfect candidate for your vacancy.
Where is the best place to advertise a job?
Traditional methods used to mean that a vacancy needed to be filled, so the HR department would put out feelers within the organisation trying to find an internal candidate to fill the position. More often than not, this would not always be successful, so HR would advertise the job externally, from adverts in papers through to adverts on the Internet.
The dawn of the Internet has been a wonderful thing for the jobs market, for employers and candidates alike. There are now hundreds of job sites giving a potential employer like yourself access to a wide range of potential candidates. An advert on Monster can cost you as little as £140 per job advert. For an employer who wants maximum exposure to candidates, it can start to get pretty pricey when you start advertising on a number of different websites. You then also have to consider the potential duplication that could come through from a candidate who has maybe applied for your job from a number of different sites.
This then begs the question of if a recruitment agency is the best option for an employer that is wanting the best possible candidate and is not worried about price. However, thinking back to where we mentioned the average employee costs about £30,000 to replace, it starts to add up the costs when you consider that a recruitment agency will cost your firm on average 10-15% of the final agreed salary of your new employee. Now, there is no doubt that they can be made to earn their money. More often than not they are sifting through applicants who are not suitable for your role. There have, however, been reports of the perfect candidate slipping through the net because a recruiter was unsure of their suitability for the role. This means companies are now turning towards doing their own candidate sifts, meaning they know they have seen all possible candidates. There are also reports of recruitment agencies sending unsuitable candidates on the off chance that they may get the job, in the hope of getting the commission. This is costly and stressful for the person being interviewed and even more frustrating for your company who need to fill that role!
Is doing my own recruitment a cost effective option?
So we have spoken about recruiters who may send inappropriate candidates, or may miss the vital missing link and that perfect candidate, so maybe doing it yourself is the best option? This may be the perfect option for your company. However, ask yourself one question, ask yourself in how many sites you need to advertise the job? There are many well-known job sites for the UK market, however, how about all the specialist ones you may also need to advertise on? Although you may not be paying a recruitment company, your time is still money, not to mention the cost of writing up an advert and manually placing it on every site. The costs of advertising on each site also add up, with each vacancy costing around £140 on each site. So what is the solution?
So what are the differences between going to an agency for advertising jobs within my company and using a smarter recruitment solution?
The solution is using smart recruitment solutions, such as thatrecruit.com . That Recruit is unique in the fact that we will do all the legwork for you, but allowing your company to remain in the driving seat when it comes to candidate selection. Many companies feel confident in the recruitment process, being happy to interview, make the final selection and offers, however with a traditional recruitment agency you will still pay for this service, even if you don't need it. With a smarter recruitment solution, you can allow another firm to do the initial sourcing and only pay for the services you require.
Why should I use thatrecruit.com for advertising a job?
That Recruit uses a mixture of job board postings, utilising big names such as Monster, TotalJobs, and CareerBuilder, as well as social media and local and national advertising. This alone would cost not only a lot of your valuable time but money too. With our standing in the jobs market, we can offer you a single vacancy advertisement rate of £139. What is even better is there are no hidden, additional fees or commissions to pay and the more advertisements you place with us the greater the saving. You just get the candidate profiles delivered directly to you, so you can focus on filling the role with the right candidate. Should during the recruitment process you decide you need more than one applicant to be made an offer, or you wish to keep candidate's details for other potential vacancies, then you can. All applicants details are yours to keep and if you decide to employ more people than you advertised for, then there are no penalties from ourselves.
Should you need any assistance finding the right employee and to start to advertise jobs for your company, That Recruit is on head to help you with ensuring your job advertisement reaches the audience you require. Best of luck sourcing your star candidate for your company.