When times are economically difficult, companies will inevitably carry out reviews of their business processes and practices, to identify potential cost savings.
As the UK has recently entered an unanticipated recession, it is not a surprise that companies are looking for ways to reduce expenditure and managing more functions in-house is one of the most obvious areas to look at.
We understand the appeal of this strategy, but in the field of recruitment, we recommend against it as very short term cost savings can lead to greater expenditure in the longer term. All of our considerable experience in the field of recruitment has shown us that investing in the expert support of a professional partner like Matchpoint Recruitment is likely to result in much better value for money over time.
Here are some of the areas where we can help:
Recruitment can be an expensive business, even when managed in-house.
It is possible to advertise vacancies only on your company website and social media platforms, but this is not the optimum way to ensure that you reach as many quality candidates as possible.
At the very least your adverts should appear on one or more of the major job advertising websites and/or the national media, and this has the potential to be expensive. Costs can range from £50-£100 for a basic un-targeted online job listing, up to many thousands to advertise in one of the major national newspapers.
Our established networks and online presence mean that we can access identify the best way to advertise your role and in some cases we will already have the right selection of candidates on file, so advertising can be kept to a minimum.
It is important to remember that in the world of financial services and commodities, time really is money when managing your recruitment in-house.
Using an external professional saves your HR team a considerable amount of time trawling through applications, weeding out appropriate possibilities and contacting candidates. It also means that your HR function can be streamlined and focused on just those personnel matters which really do need to be managed in house.
We can also help to save a considerable amount of time for your in-house business teams as our input means they won’t need as much hands-on involvement in the selection process.
Our expert knowledge allows us to look at candidates in the same way that your business colleagues would. So we recommend that you free-up your revenue generating colleagues to concentrate on just that!
At Matchpoint, we are 100% focused on recruitment. All we do is seek out the right candidates for our clients, so we have made this into a fine art! This has the potential to save you expenditure in two very important ways:
The first is that you will only need to see appropriate candidates who we have already vetted first to ensure the right mix of experience, skills and personality for your role, team and business.
We constantly scan the market for quality candidates and any individual who we send you for interview is actively looking to move.
The second benefit is that recruiting the right person means that they are likely stay with you for longer and be an asset to your organisation over the longer term. This will help to prevent unnecessary turnover and also save the cost of recruiting more expensive senior hires as he or she progresses through the organisation.
The second benefit is that recruiting the right person means that he or she is likely stay with you and be an asset to your organisation over the longer term. This will help to prevent unnecessary turnover and save the cost of recruiting more expensive senior hires as over time.
A good match will also mean that you avoid the need to rehire again in the near future, saving both recruitment and onboarding costs for an employee who doesn’t work out.
Clearly a major benefit is that we only work for you when you need us, so if recruitment is on hold then that will inevitably save expenditure, although we are available to provide advice and guidance whenever your need us.
Do you want to add value to your recruitment process with the expert support of Matchpoint Recruitment?
We will be delighted to discuss your requirements and provide you with support and guidance.