Welcome to this installment of BlueSky's featurette series, where we break down a feature of the HCL Commerce platform. HCL continues to push the envelope when it comes to adding new functionality to the Commerce platform. This featurette highlights their newest...
Talent: Benefits of Hiring Talent Acquistion
Talent: 10 Benefits of Outsourcing Recruitment to a Third Party
In today’s competitive market, finding the specific talent that meets your company’s requirements is more difficult than ever. It’s also no secret that hiring new employees can be costly, time-consuming, and inherently risky.
By working with a recruitment agency, companies can identify candidates who have the skills and experience they need to succeed in a new role. This can help reduce the time and resources that would otherwise be spent on training and development.
Let’s have a look at the role of talent acquisition specialists and why outsourcing recruitment services could be the best thing your company ever did.
What is Talent Acquisition?
Talent acquisition is the process employers use to recruit, track and interview new job candidates and can involve on-boarding and training them so that they can adapt well to the company culture. Talent acquisition is usually carried out by the human resources (HR) department of a company. However, these days, outsourcing some, if not all, recruitment services have become more popular.
Talent acquisition is an important aspect of any business because finding and hiring the right people is a crucial element of an organization’s overall success. Lacking the right talent, a business may struggle with meeting productivity goals. It may also lead to ending up with a team of unmotivated staff. These factors make it almost impossible for a business to compete in their market, and their competitors could easily pass them on the road to success.
The Roles of a Talent Acquisition Specialist
Talent acquisition specialists are necessary for businesses to find and recruit high-quality talent. They also streamline and strategize the hiring process for in-house hiring teams over the long term.
The main roles of talent acquisition or recruitment specialists include:
- Awareness of marketplace trends
- Understanding the company’s talent requirements
- Long-term personnel strategy
- Ensuring regulatory compliance
- Sourcing, analyzing, and interviewing candidates
The Benefits of Outsourcing Recruitment and Talent Acquisition
These days, new recruitment companies are popping up left, right, and center. Small, medium and enterprise businesses are realizing the pitfalls of hosting an in-house talent acquisition department. Between the cost of running the department and the narrowness of scope of a typical company-based talent acquisition team, it’s becoming clearer that outsourcing recruitment is beneficial.
Let’s take a closer look at how partnering with an outside recruitment company can benefit you.
1. More Efficient Hiring Process
It makes sense that people who make a living out of sourcing, interviewing, and recruiting candidates would be the most efficient people at doing it. Recruiters live and breathe this stuff. That makes them highly efficient when it comes to executing an effective hiring process. They understand the trends of the industry and utilize the latest tools available to streamline the hiring process.
2. Less Risk
While outsourcing your recruiting functions to outside professionals may appear frightening or costly, the true risk depends only on in-house recruitment. You may not be able to scale quickly enough or at a low enough cost-per-hire to make meaningful hiring decisions if you do so.
This capacity to scale means that instead of being financially tied to a fixed cost all of the time, you may forecast your expenditures based on the complexity of your needs. Whether it’s an enterprise relationship or short-term talent acquisition projects, you just pay for the resources you need at the time.
3. Expert Insight
Recruiting specialists often only recruit within a particular industry, and they usually have a good degree of expertise and knowledge of it. Recruiters meet with many people within a given industry, giving them an insight into what companies are doing and how they’re achieving results. Hiring a recruiter could be a great way to get expert insight into what your main competitors are doing and the current market trends.
4. Saves You Money
When you consider the costs involved in running a full-fledged talent acquisition department, it’s easy to understand how outsourcing can save you money. Between employee salaries, bonuses, holiday pay, and the cost of office space, you’re spending a lot of your annual revenue keeping the department afloat.
5. Saves You Time
If you’ve ever hired a candidate, you know just how much time it takes. First, you need to set up the job post and make sure it circulates far and wide enough for people to see. Then, you need to read hundreds of candidate resumes and shortlist the best candidates. Among the short-listed candidates, you need to interview them all again and get to know them a little bit deeper.
Maybe you’ll shortlist again because you can’t decide who’s best between the top three candidates. Perhaps, you’re having such a difficult time deciding that you interview all three again. Once you narrow your search, you need to get the hiring manager’s approval of the candidates. Convinced yet?
6. More Accurate Candidate Selection
Recruiters have a knack for catching the right talent, and with their experience, they are able to see right through candidates and easily detect when someone isn’t everything they’re claiming to be. Their ultimate goal is to find the best fit for your company using the job description you have developed.
7. Decrease Turnover
One of the most common complaints employees have about their employers’ recruiting processes is that they do not do a good enough job of screening out unqualified or uninspired applicants. Nothing irritates employees or managers more than spending days (or weeks) training a new employee only to have them resign or be fired before they’re even eligible for benefits.
New employee turnover rates that are too high have a detrimental impact on both productivity and profitability. Outsourcing hiring to a group of professionals produces better applicants, which leads to decreased employee turnover.
8. Scalable Recruiting Solutions
One of the core advantages of outsourcing recruiting is that companies may adjust or expand their services at any moment. This is especially significant for companies who need to ramp up or expand their recruitment efforts during a specific season or time of year (like during the winter holidays or over the summer months). Outsourcing the recruitment process gives these businesses the flexibility they need to grow their hiring operations to keep up with demand.
One of the most under-appreciated advantages of outsourcing the recruitment role is the data that can be collected during the hiring process. Analyzing this data enables not only real-time reporting and insights that may aid decision-making but also provide meaningful insight into strategies. This enables improvements in the recruiting process, increasing the efficiency, cost-effectiveness, and ultimately the quality of employees over time.
10. Access to Exclusive Talent Pool
Recruiters spend all day, every day, wedging themselves into the center of industries, whatever they may be. They are networking experts and, as such, have access to a large pool of relevant talent. Looking for a particular candidate to manage a new department? Chances are, the recruiters in your industry know just the person for the job. Connecting with recruiters enables you to make use of their vast network.
Consider a Partnership With Talent Acquisition Specialists
BlueSky Commerce considers the recruiting process to be a delicate art. We offer a talent acquisition service that can save your business time and money. Our team of experienced recruiters source and screen candidates using the latest technology to identify and manage the most qualified candidates for your open positions. Leveraging our talent acquisition service allows you to do what you do best and focus on running your business.
Contact us today to learn more about how we can help you grow your business.
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