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Why it Matters?
Simply put, recruitment powers your sales team and performance. If you hire slowly or even worse, poorly, the cost to a sales leader can be up to 75% of 1 individuals yearly target! (check out our article on the cost of on empty seat to find out more information).
You could be the best Business or Sales Leader but if you have empty seats, or seats with the wrong people in them, then your numbers are going to suffer – end of. Good recruitment is fundamentally the easiest way to drive revenue performance.
What Should your Recruitment Team be Delivering?
Ultimatly we believe any rec team / set up should act and be managed like a sales team. The recruitment set up needs to be delivering the best talent in the appropriate time frames. That means targets. Ultimatelty the key targets should be:
- Volume / Worth of Placements
- Interview to Hire Ratio
- How many interviews does it take to make the hire. A good recruitment team should be looking at around 1:6.
- Time to Fill
- Once a roles goes live – how many days is it taking to fill. A good recruitment team should be looking at around 20 days.
Management should be constantly reviewing these to ensure optimum performance within the recruitment set up. If your recruitment set up is not delivering those then a shake up / change could be required. The two big options are: agency and in-house.
Key Agency Points
Strength of Network / Quality of Candidates
Agencies that specialise in a sector will have a wealth of suitable candidates in their network. They will also know which companies to target, which ones to avoid how to compeitively position your brand for maximim outcome.
Speed of Hire
Agencies need to keep their clients to secure an income. The best way of doing that is to ensure they fill the vacant positions with quality candidates in the quickest time period going. There are often strict targets and detailed candidate resoucring plans to ensure deadlines are hit.
Flexible Working and Pricing Options
Agencies offer a wealth of flexibiltiy in partnership and financial options so don’t be fooled into thinking they are a one stop shop, expensive outlet. Many agencies actually work out cheaper than in-house teams. Lots of companies now have agency teams solely dedicated to their account. Ageny employees work out of their offices, really become invested in the clients EVP and the client benefits from all the resources an agency possess. It also ensures constant account succession.
Key In-House Points
Cover Variety of Roles
Having an inhouse team gives you greater scope to manage and recruit a wide range of roles under one roof as opposed to trying to manage a wide vartiety of different specialist agencies.
Greater Connect between Different Divisions
When managing a range of different roles, that in-house team will naturally report into different hiring managers. That then means your talent set up is completely connected to a wide variety of functions with the business.
Consistency in Hiring Process across the Business
If an in-house set up is running all positions within the business, it means all interview processes can be standardised. This can be a great way of creating consistency in the interview process to ensure a great candidate experience whilst ensuring all key behaviours and skills required by the company are assessed and recorded properly.
So what is best?
The answer is simple - whatever option guarentees that you are hiring top talent and limits empty seat time. That solution will always financially outperform a poor recruitment set up.
Specialist agencies are quicker, have greater market reach, and being more innovative with their offerings is giving clients a way to guarentee results without the cost issues.
Yet specialist agencies will struggle to excel in an environment where they need to manage a huge variety of different roles outside of their scope. They don’t have the knowledge, brand or set up to excel in the same scope as their speciality.
Sometimes creating a best-in-class set up can thrive with a smart combination of both, outsourced specialist positions like sales to an agency, whilst managing non-specialsit roles in-house.
The bottom line is leaders, look at your current recruitment performance, and if it’s not good enough, do something about it!
If you would like to book a free consultation with one of our team, please book in using this link - Book your free chat