Small companies may believe that they cannot afford to partner with a staffing company. Surely only large organizations can afford the fees staffing agencies charge? In fact, partnering with a staffing company improves your hiring process so that this service pays for itself. Here’s how a partnership with a third-party recruiting firm can cut your hiring costs—sometimes significantly.
Staffing Companies Improve Your Recruiting Process
If you’re searching for a way to improve your time to hire, consider a staffing company. These companies can reduce the mistakes you make during the hiring process that cause you to hire the wrong employee. We all know replacing one bad hire can cost you up to 125% of the employee’s salary. If a staffing company can help you find a better fit, it cuts your recruiting costs significantly. Not to mention staffing companies can speed up and streamline your workflows by using the best technology automation. Having the right tools to do the job makes for a more efficient hiring process. Staffing firms also reduce your hiring risk by finding the most qualified candidates available on the market today. This saves you both time and money.
Staffing Companies Can Cut Your Benefits Costs
Employee benefits eat up at least 35% of your payroll. But you can use temporary or contingent workers and the staffing company can pick up the benefits for this workforce. That way, you’re able to still attract the best candidates to your company but without the overhead of insurance or other benefits. This is particularly effective if you have project work to keep these temp teams busy. It also allows you, the employer, to “try it before you buy it,” alleviating your risk.
Staffing Firms Shift the Administrative Burden Away from Your HR Team
This is particularly true if you’re hiring temporary help. But even if you’re searching for full-time employees, a recruiting firm handles many of the administrative burdens upfront that your HR team is often saddled with. If you hire temp staff, processing paperwork, benefits, and payroll are often shifted to the staffing agency.
A Recruiting Firm Uncovers Hidden Talent
These days, the best way to find job candidates is to search out those passive candidates who haven’t even applied to your job yet. This talent is hidden and it takes a massive amount of time to ferret them out. But this proactive process is exactly what will set you apart from other companies. In today’s market, this will save you money by reducing your time to hire.
Find the Right Recruiting Firm
Finding the right recruiting firm is hard. PrideStaff is standing by to show you how we can cut your hiring costs while providing excellent, fast service to our clients. Talk with our team today to find out more.