Are You Getting the Most Out of Your Recruitment Suppliers?
If your company works with multiple recruitment firms, you want the process to run as smoothly as possible, delivering the best candidates and directing cost-efficiencies back to the bottom line. It’s worth taking the time to iron out a strategy to make sure your suppliers are operating at the highest possible standard to meet your needs.
To get the best results, here are some recommendations:
Determine the optimum number of vendors
Although it might be tempting to engage as many suppliers as you can to hedge your bets on quantity, that approach can backfire. If you’re casting the widest net for your suppliers, are you sure you’re getting the cream of the crop?
Because each supplier added increases your oversight responsibilities, it’s important to make sure each one provides a good return. Measuring suppliers according to the same performance criteria and benchmarks should provide a clear picture to guide you. Are the poorest performers worth including in your preferred list? Often, fewer vendors can actually translate into a higher level of engagement.
Relationship and communication
Although all your vendors may respond to your calls and provide you with candidates, that’s the minimum you should expect in this relationship. Ideally, you want your interactions to reflect the view that you are each supplier’s number one priority.
Make sure any recruitment partner you work with consistently gives you the highest level of service, responsiveness and communication. When they have a laser focus on your hiring needs, they make your job easier by providing only the most appropriate candidates.
• Consultative Partnership: Does a vendor provide advice on how to improve talent attraction, development and/or retention practices so you can determine how to compete for the best talent available?
• Proactive Service: Your relationship with your vendors should maximise collaboration and efficiency while reducing the amount of time you have to spend micro-managing the process. Your vendors should always be asking, “What can we do to help?”
• Quality Hires: If you’re getting a large number of candidate referrals, but the quality is spotty or lacking, your time has been wasted. Look at the number of quality hires compared to the total number of submittals. A more experienced recruitment partner should be able to help you control your soft costs, which translates into efficiency and overall profit. For the vendors who really earn your trust, you’ll find the benefits of a mutual and cooperative relationship will go a long way toward increasing your success.
The key to building a quality relationship is streamlining the process. Taking a critical look at the return on investment you receive from each vendor could lead you to build stronger relationships with fewer vendors, enabling you to cut unnecessary workload and focus your efforts on achieving your business goals.
Want to learn more about getting the most out of your recruitment suppliers? Contact Aerotek now.