Recruitment Research - Quality Results, Lower Cost-Per-Hire
| Category: Market Research | Date: 2003-11-11 |
During these times of restructuring, budget cuts, and hiring freezes, HR executives and hiring managers are focused on implementing recruiting strategies that maximize their resources. A strategy that is cost effective, yet able to deliver quality candidates in a timely manner, is the goal. One highly effective weapon to consider for your arsenal is research based recruiting -- often called Recruitment Research.
What is Recruitment Research?
In a nutshell, Recruitment Research delivers top-notch candidates for a fraction of the cost of the traditional fee-for-hire retained or contingency search firms. By utilizing Recruitment Research it is possible to lower a companys cost-per-hire to the 7-15% of salary range vs. the typical 20-30%, while at the same time attracting "the best of the do-ers, not the best of the lookers."
Recruitment Research determines exactly WHO you want to hire and WHERE you want to hire them from, and then finds those candidates for you. Similar to an executive search consultant, a recruitment researcher partners with you to understand the position, the corporate culture, the intangibles, and the skill set required. Once located those candidates are thoroughly qualified and screened, "sold" on your opportunity - then delivered to you primed and ready for the interviewing process! Most often these candidates are the passive candidates who are currently employed and are not actually engaged in a job search.
When to use Recruitment Research
Since recruitment research is focused, strategic, and targeted; there are many ways and reasons to use recruitment research. These include:
· Difficult searches with unique skill sets
· Multi-city searches for sales or business development people
· Searches that require a quick ramp-up period
· Getting a derailed search back on track by developing fresh candidates from new or different sources
· Competitive intelligence into a competitors company to reveal salary, employee satisfaction or new product information
Advantages of Recruitment Research
1. Quality
· Since recruitment research is totally focused on your particular search, with specific places to look for the candidates you desire; candidates are only submitted to you that meet the specifications youve outlined. You will not be buried in paper.
· You will receive passive candidates - the best of the do-ers not the best of the lookers. Often these passive candidates will come directly from one of your competitors.
· You have the ability to concentrate on searching in just a few priority target companies.
· You may stop and start, or restart the process at any time, with no hidden or additional charges.
2. Ownership of the Research
· You receive a database of all of the people sourced and contacted in connection with the search.
· The database includes names, contact information and comments.
· This valuable data provides competitive intelligence information such as salary, industry perception of your company, and competitor candidates that can be used for future hiring needs. Consequently, this can be an extremely cost-effective way to hire multiple candidates.
3. Efficiency & Speed
· Name identification can be completed within a day or two and a flow of qualified developed candidates can usually be delivered to you in one to two weeks.
4. Cost
· It is possible to lower your cost per hire to the 7-15% of salary range by using recruitment research. For example, if you wanted to hire a Regional Sales Manger with a base salary of $100,000, a typical retained or contingency search firm may charge anywhere from 20% -30% or $20,000 - $30,000. By using recruitment research it is possible to make this hire for as little as $5,000.
Consider adding Recruitment Research to your staffing solutions. It is a solution that works across various industries and levels of seniority. Youll find that it is a cost effective way to hire targeted candidates with speed and efficiency.
Catherine Pringle ©2002
About the Author
Catherine Pringle is President of RRA, Inc., a nationwide recruitment research firm based in Minneapolis, MN. Visit the website or call 800-400-8132
cpringle@recruitmentresearch.com
http://www.recruitmentresearch.com
What is Recruitment Research?
In a nutshell, Recruitment Research delivers top-notch candidates for a fraction of the cost of the traditional fee-for-hire retained or contingency search firms. By utilizing Recruitment Research it is possible to lower a companys cost-per-hire to the 7-15% of salary range vs. the typical 20-30%, while at the same time attracting "the best of the do-ers, not the best of the lookers."
Recruitment Research determines exactly WHO you want to hire and WHERE you want to hire them from, and then finds those candidates for you. Similar to an executive search consultant, a recruitment researcher partners with you to understand the position, the corporate culture, the intangibles, and the skill set required. Once located those candidates are thoroughly qualified and screened, "sold" on your opportunity - then delivered to you primed and ready for the interviewing process! Most often these candidates are the passive candidates who are currently employed and are not actually engaged in a job search.
When to use Recruitment Research
Since recruitment research is focused, strategic, and targeted; there are many ways and reasons to use recruitment research. These include:
· Difficult searches with unique skill sets
· Multi-city searches for sales or business development people
· Searches that require a quick ramp-up period
· Getting a derailed search back on track by developing fresh candidates from new or different sources
· Competitive intelligence into a competitors company to reveal salary, employee satisfaction or new product information
Advantages of Recruitment Research
1. Quality
· Since recruitment research is totally focused on your particular search, with specific places to look for the candidates you desire; candidates are only submitted to you that meet the specifications youve outlined. You will not be buried in paper.
· You will receive passive candidates - the best of the do-ers not the best of the lookers. Often these passive candidates will come directly from one of your competitors.
· You have the ability to concentrate on searching in just a few priority target companies.
· You may stop and start, or restart the process at any time, with no hidden or additional charges.
2. Ownership of the Research
· You receive a database of all of the people sourced and contacted in connection with the search.
· The database includes names, contact information and comments.
· This valuable data provides competitive intelligence information such as salary, industry perception of your company, and competitor candidates that can be used for future hiring needs. Consequently, this can be an extremely cost-effective way to hire multiple candidates.
3. Efficiency & Speed
· Name identification can be completed within a day or two and a flow of qualified developed candidates can usually be delivered to you in one to two weeks.
4. Cost
· It is possible to lower your cost per hire to the 7-15% of salary range by using recruitment research. For example, if you wanted to hire a Regional Sales Manger with a base salary of $100,000, a typical retained or contingency search firm may charge anywhere from 20% -30% or $20,000 - $30,000. By using recruitment research it is possible to make this hire for as little as $5,000.
Consider adding Recruitment Research to your staffing solutions. It is a solution that works across various industries and levels of seniority. Youll find that it is a cost effective way to hire targeted candidates with speed and efficiency.
Catherine Pringle ©2002
About the Author
Catherine Pringle is President of RRA, Inc., a nationwide recruitment research firm based in Minneapolis, MN. Visit the website or call 800-400-8132
cpringle@recruitmentresearch.com
http://www.recruitmentresearch.com
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