4 Things to Understand About Contingency Recruiting
Contingency recruitment firms search for the best candidate
The goal of contingency recruitment firms is to have their candidate hired by the company, so they do their best to search for the most qualified person for the job. Contingency recruiters work rapidly, using their networks to advertise the job in various databases and job boards.
It makes sense because the only way they will get paid is when a company actually hires their applicant. The best contingency recruiters will only send higher-quality candidates and won’t inundate employers with just passable job-seekers.
Reputable contingency recruitment firms follow a process
Business owners will be able to assess the caliber of the contingency recruitment agency by checking if they follow a process in looking for the best hire.
First off, these agencies should thoroughly analyze the job description. Next, they identify qualified candidates by searching their database. They can also source new candidates when needed.
They then reach out to the candidates to see if they’re interested and then submit the resumes to prospective employers. They wait for the employers to identify who they want to interview and schedule the interview.
Lastly, if the candidate is accepted for the job, the employer pays the agency the pre-determined fee.
Contingency recruiting allows businesses to expand their candidate base
It’s a Win-Win: This type of recruitment helps businesses expand their candidate base without paying upfront. Since businesses are looking for the best match, they can work with several contingency recruiters simultaneously. The company then has an opportunity to extend its recruitment reach.
There is no long-term contract in contingency recruiting
Companies don’t need to enter into a long-term contract with contingency recruitment firms. They usually work on a per-project basis, but since they have no guaranteed commission unless their candidate gets hired, they are more motivated to put forth best-fit candidates to get a higher hit rate.
Contingency recruiting offers a lot of benefits for the employer. This recruitment style is usually geared towards active job seekers and for companies who have an immediate need to hire an employee.
It is an efficient way for businesses to fill up entry-level to mid-senior level positions, and there is also less cost involved. As companies are jumping back into their “new normal” routine, they are starting to look for new employees, and there is a lot of top talent available right now.