Leveraging Specialized Staffing Agency Services
Sum Ting Wong was a specialist in forensic accounting at one of the leading financial services firms in North America. She has been part of the firm for roughly nine years. Because of an unresolved dispute, she decided to leave her employer. Her decision sparked outrage because the company will lose money and credibility the longer it takes to fill the vacancy. The management contacted a specialized staffing agency to overcome this crisis.
A specialized staffing agency is a company that finds and hires rigorously vetted employees for businesses across industries. This business model helps companies grow their workforce more efficiently, as they can partner with an agency to find the right talent in a short time. In this article, we will explore how companies can rake in benefits by hiring specialized staffing agencies so they can stay focused on their organizational goals.
No one takes the blame for hiring the wrong person because it means admitting that the hiring manager did not do a proper job.
A specialized staffing agency provides accountability by ensuring an appropriate match between each employee’s skillset and experience level with their client’s needs for that position. The customer gets someone who will add value to the company and perform effectively to achieve organizational goals for them. The employee gets a job because their skills fit what the client requires. It is definitely a win-win situation.
Market knowledge in the industry
The first and perhaps most important advantage of hiring a specialized staffing agency is the industry knowledge they bring to the table. They work closely with their clients to understand what candidates and skillset employers are looking for and how much these jobs pay. The staffing agency’s industry knowledge makes it more successful at filling vacancies than traditional recruiters.
The management will have a considerable advantage when it comes to hiring. You don’t need to waste time researching the market or speculating about what sort of workers might be available—your staffing firm does that work for you. This allows your company to focus on its core competencies while still getting top talent in place quickly.
Specialized staffing agencies have expertise in their industry and a more profound knowledge of the labor market and laws that affect their clients. They also know more about what it takes to fill these positions.
For example, suppose your company wants to hire a seasoned Java developer immediately; a position that was not planned before. As a hiring manager, you don’t have time to look into the job description and requirements or may not know much about the remuneration packages for technical positions. In this scenario, a specialized staffing agency would understand the kind of candidate and specific skill set your company requires. There is also a high probability of finding the right candidate in their already vetted extensive database, which would further bring down time-to-hire drastically.
Reduced overhead cost
In addition to the direct cost of hiring, indirect costs can add up quickly. Using a specialized staffing agency can reduce overhead costs.
It is likely that your company already has an HR department and a recruiting team. However, they may not be able to handle all of your hiring needs. By contracting a specialized staffing agency instead of an internal solution (or depending on recruiters alone), you are reducing these expenses by going with a single source for all things recruiting-related. Reduced overhead costs are just one reason companies need specialized staffing agencies.
Lower overtime pay
When you use a hiring agency, you do not have to worry about overtime pay or benefits. If Tom makes $20 an hour for a regular 40-hour work week, he gets paid $800 per week. Overtime means getting paid 1.5 times on the 9th or 41st hours onward. If Tom has worked 10 hours of overtime, the company must pay an extra $300 for overtime. Often employees file complaints against their employers for not compensating them for their overtime. This causes a conflict of interest. A specialized staffing agency can take care of this problem by providing a temporary worker. The company does not have to worry about their training or pay extra money in overtime pay.
No training or onboarding
There are many benefits to hiring a specialized staffing agency. However, one of the most important is that it will save you time and money on training and onboarding new employees. This is because they can provide trained, experienced candidates who can start working immediately.
Training and onboarding add to the expenses—but this expense is usually far more than what specialized recruiting firms charge for their services. You can partner with a specialized staffing agency and have them take care of these aspects. This will enable your new employees to immediately feel comfortable with their jobs.
The quality of the candidates that a specialized staffing agency can source for you directly reflects their expertise. This saves time and money because only qualified applicants are sent over instead of you submitting an ad, sorting them for the interview, shortlisting, and repeating the process.
If the candidate is already a great fit, it may also result in higher retention rates due to employee job satisfaction. There is no better ROI than a top-performing, satisfied employee.
Temporary to permanent
Another advantage of hiring a specialized staffing firm is getting access to a pool of temporary and permanent employee profiles. In case you are not sure if the position will remain relevant for a long time after a particular project ends, you may get the staffing firm to hire a temp employee for you.
It is also a good way for an employee who wants to test out working for your company without committing too much time. Employees can be permanently hired if they do well during their temporary position. On the other hand, if this isn’t the right fit for either party after all, then no harm is done—no one has invested too much into something that didn’t work out as planned to make it happen.
The above are reasons companies need to hire a specialized staffing agency. The reality is that most businesses don’t have the time and resources to do everything from scratch. So when it comes to filling positions, hiring qualified candidates with experience in relevant industries is one of the most time-consuming tasks for business owners.
Arthur Lawrence has partnered with hundreds of Fortune 500 and Global 2000 companies to enable them to reach their exceptional by improving their talent acquisition capabilities.