The Benefits of Retained Recruitment

The Benefits of Retained Recruitment

Recruiting new staff into your business is never an easy feat. You may be experiencing the difficulties of filling a vacancy first-hand, or you might be exploring options for external recruitment assistance.

Keep reading to find out about the solution to all your recruitment needs: retained search.

All businesses need recruitment services, be it in-house or outside of the business. Recruitment may be needed urgently, or less urgently, for numerous reasons. Urgent recruitment can occur as a result of unexpected employee departure, or business growth. With less-urgent recruitment occurring because of expansion plans, or the goal of creating a pipeline of great talent into your business.

In-house recruitment departments have inside knowledge of the business, and therefore usually know what is best for the business in terms of on-boarding new employees. However, these departments are often extremely busy, especially within a growing business, and tend not to be able to invest the time to find those hidden gems that are not active on the market and applying to job adverts. Sourcing candidates can be a very long and arduous process, with high UK unemployment levels only adding to the number of candidates to be sifted through for each role. And this is all before the interview process begins.

Retained search involves outsourcing the full process to a specialist recruiter who manages the complete process from candidate engagement through to offer.  All you have to do is turn up and interview a short-list of pre-screened candidates. 

On the surface, a retained search may look like a big cost and you may be put off by paying a portion of the fee up front.  However, working this way frees your time up to focus on your job, increases the chances of success and costs no more than working on contingency basis.

Let us have a look at the benefits New Chapter’s retained search, namely five²™, could bring to your business…

1. You will attract the best talent with five²™:

The five²™ retained approach contains 25 steps to ensure we identify the best talent in the marketplace, not just on a recruiter’s database. We produce bespoke marketing materials including candidate information packs and video job adverts to create a positive employer brand and help us engage with passive candidates. We also map the market to ensure we match and engage the best people for your vacancy.

2. Recruiters take problems away:

It goes beyond searching for the right candidate. Our Recruitment Consultants at New Chapter are specialists in the FMCG & Retail space and have excellent communication skills, specifically in delicate situations and negotiations. We then assess the candidates against your specific requirements and feed back to you their strengths and weaknesses. All you have to do is turn up and interview our shortlist and decide who is the best fit for you.

3. A retained approach is proven to lead to more hires:

Its proven that this approach leads to more successful hires.  After 2 years, 87% of the candidates we have placed with our clients are still in post. Over 50% of those have been promoted to higher positions. This is in contrast to a recent study we ran that showed that on average people move companies every 1.9 years in FMCG/Retail.  Sounds good, right?

4. Save time and money:

Recruiting someone is often a lengthy and often costly process. A retained recruiter is dedicated to finding the ideal candidate for you and will reduce demands on your time once the search parameters have been set. In addition, whilst a contingency recruiter may be working with multiple other clients at a time, a retained recruiter is 100% committed to working with you, which increases the final quality of hire.

So, what’s it to be? Retained or contingent?
The answer is clear to us.

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