Put all your eggs in one recruitment basket…
In 2013 we set ourselves the challenge of being commercially different. If the truth be told not much had changed in commercial recruitment since the 1980’s. And we increasingly saw the flaws in the accepted commercial model. Particularly around the ‘Russian roulette’ of multi-agency resourcing.
The vast majority of our competitors in the HR recruitment market, both large and small, will charge around 20%, perhaps more to place a candidate. However, we charge just 10%* How can we do this and still be commercially viable? The answer is simple.
We work on fewer vacancies but fill more
Within recruitment much of the work of a consultant is to a certain extent, wasted. For example, if the average consultant is working on 4 vacancies, they will only be successful in finding the right candidate for one. Which means 75% of their time is wasted. This isn’t because they aren’t good at their job, it could be because one role went to an internal candidate, one got as far as first round interview and the 4th, their candidate got to the final interview stage but wasn’t successful.
As the accepted business model is that consultants aren’t paid until the candidate starts their new role, recruiters need to charge these high fees to cover the ‘wasted’ time.
Now we think that’s bad business for all sorts of reasons. Not least that all that wasted time could have been invested in improving client service and candidate experience. Two areas agencies are constantly criticised over. Too many plates spinning equals a lot of broken crockery…
So we thought here’s an idea. What if we save all that wasted time? That way would we could charge less and yet deliver better experiences. Simply because we need to work on fewer assignments to deliver the same revenue. ‘Simples’ as a certain meerkat would say.
It’s a win win situation
So we decided to be commercially different and cut our fees. You see if we work on assignments exclusively everyone wins. Our clients and candidates get more of our time and attention as we’ve got more to give, and we will be rewarded for our efforts.
Hang on, I hear you ask… ‘won’t working with just a single recruiter limit my chances of finding the best candidate?’ While this might have been true in the days before technology revolutionised recruiting, now it’s not the case. Candidates search online for jobs, so whether your vacancy is advertised by Consultant A or Consultant B, the same candidates will see it. I know when working on a multiple-agency vacancy I’ll often have candidate apply to my advert not realising it’s the same role they’ve already spoken to another agency about. The fear of missing out on the ideal candidate is understandable, but in reality, it’s all about who gets to that candidate first.
What you will get by working with us exclusively is better service, we’ll spend more time understanding your role. As we don’t need to fight against other agencies for candidates we’ll spend time finding the best ones for you. That means doing an element of headhunting, not just waiting for the applications to appear in our inbox. It means we’ll spend time writing an outstanding job advert, as there isn’t the rush to get the posting live as quickly as possible. In fact, our advertising on People Management attracts at least 5 times as many applications than those posted by the big recruiters…
I could go on, but hopefully this proves my point that sometimes it is better to put all your eggs in one basket…
Like the idea? Give me a call on 07711199816 or drop me an email email@example.com and see how we can help with your HR recruitment.
*To benefit from fees of 10% we ask for a £500 non-refundable retainer.