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| Finding Candidates |
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| 1. Contingency Recruiter
- Niles + Associates, Inc. |
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| Definition |
- No payment due until candidate is hired. Companies frequently engage the services of multiple recruiting agencies.
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| Cost |
- Based on percentage of salary.
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| Advantages |
- By using a single contingency agency, you
develop a relationship; the recruiter understands
your needs. Niles + Associates will partner with
you to understand your needs and shorten the hiring
process. Our preference is to work with you on an
exclusive basis for the reasons listed below.
- Recruiter "sells" your company and the position.
The candidates you receive from Niles +
Associates all have been briefed on your company,
it's products, culture and approach to business.
- Get passive and active candidates. There are
many good candidates who are actively looking for a
new position, though sometimes the best candidate is
one who is employed and not actively looking for a
change. Niles + Associates seeks out both active
and passive candidates.
- Candidates should be pre-qualified. If they are not, the recruiter isn't doing a proper job for you.
All candidates you receive from Niles +
Associates have been pre-qualified. Our focus is on
quality, not quantity.
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| Disadvantages |
- If using multiple contingency agencies on the same assignment,
they frequently contact the same candidates. Some
candidates find this annoying!
- If using multiple contingency agencies on the
same assignment, some are inclined to send resumes just because it's a race;
giving the process less thought and conducting
little or no pre-qualification.
- Manager has to coordinate with several
recruiters if using more than one firm.
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| 2. Networking |
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| Definition |
- The process of making contact with people to ask for names of potential candidates. Process can lead down tangential paths as one person refers you to another, that one to several others, and so on.
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| Cost |
- Depends on who is doing the networking. If it's
your manager, the cost is tied up in consuming the
manager's time. And that's a big expense!
Networking by Niles + Associates effectively saves
you that expense because it's a part of our process,
thus included in the fee for a successful placement.
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| Advantages |
- The source of the referral is a known entity.
- May uncover candidates who would be unlikely to surface otherwise.
Niles + Associates' extensive database and
wide-ranging contacts
enable us to get to candidates who might otherwise
not be uncovered.
- Niles + Associates extensive database and
contacts make it likely the candidate can be checked
out with other sources.
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| Disadvantages |
- Very time-consuming.
- Manager time spent checking out candidates that have not been pre-qualified to match the position.
- Manager opportunity cost.
- Network contact can be put-off because you weren't interested in the person suggested.
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| 3. Research |
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| Definition |
- Encompasses a variety of methods. Examples include finding companies where potential candidates work, then calling to recruit them, using internet skills, reviewing resumes on job posting boards, etc.
- Networking is part of research process.
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| Cost |
- High, if a hiring manager is doing the research.
Cost is optimized by using a skilled recruiter.
- Factor in researcher's cost per hour.
- Training, e.g., AIRS training
- Research by Niles + Associates effectively
saves you that expense because it's a part of our
process, thus included in the fee for a successful
placement.
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| Advantages |
- May uncover candidates who would be unlikely to surface otherwise.
- Niles + Associates can make contacts without
revealing the hiring company, and so avoid
"relationship" problems and protect confidentiality.
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| Disadvantages |
- Very time-consuming.
- Manager opportunity cost.
- Requires training for some methods.
- Direct contact from your company can create "relationship" problems
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| 4. Media Advertising |
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| Definition |
- Advertising jobs at a variety of venues. Includes print and internet media, such as newspapers and trade publications, and internet job sites.
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| Cost |
- Cost varies depending on the media.
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| Advantages |
- Candidates are using multiple media outlets.
Niles + Associates puts your job out to multiple
outlets.
- Niles + Associates intimate knowledge of the
industries enables perceptive matches that can be
overlooked by someone not as familiar with the
industries and the marketplace.
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| Disadvantages |
- Manager time reviewing "self-qualified" resumes,
a high percentage of which are often irrelevant.
- Manager opportunity cost.
- More likely to attract active candidates rather than the passive candidates
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| 5. Retained Recruiter |
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| Definition |
- Use of single recruiter who receives all or part of payment up front. Balance, if any, due upon hire.
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| Cost |
- Varies with the recruiting agency.
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| Advantages |
- Partnership means better understanding of the company and position to better present your position.
- Recruiter "sells" your company and the position.
- Get passive and active candidates.
- Candidates are pre-qualified.
- Manager coordinates with single contacts.
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| Disadvantages |
- Paying a fee up front is no guarantee the search
will be concluded successfully. Money can therefore
be "left on the table."
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| 6. Company Website |
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| Definition |
- Available positions posted on company website. Candidates researching companies they would like to work for use such sites extensively.
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| Cost |
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| Advantages |
- Candidates who have been to your website gain understanding of your company.
- Candidates are likely to be be serious job-seekers.
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| Disadvantages |
- Manager time reviewing "self-qualified" resumes.
- Manager opportunity cost.
- Burden to respond to all submissions, yet no response can create ill will.
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| 7. Employee Referral |
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| Definition |
- Company employees are encouraged to recommend candidates for open positions. A referral reward is paid if the referral is hired. Rewards vary from one company and one position level to another. Some are monetary, others are tangible.
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| Cost |
- Based on your reward program; varies from one company to the next.
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| Advantages |
- Can boost employee morale by getting employees involved.
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| Disadvantages |
- Manager time spent checking out candidates that have not been pre-qualified to match the position.
- Manager opportunity cost.
- Employees can be put-off because you weren't interested in the friend or relative.
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| Active vs. Passive Candidates |
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| Definition |
- Active Candidate is actively looking for a new position. The candidate may or may not be employed.
- Passive candidate has no intention of considering a job change.
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| Advantages / Disadvantages |
- There is a lot made in some circles of how much better you are with a passive candidate than an active one.
- It's our contention that a good candidate is a good candidate, whether active or passive. It takes judgment to qualify either one.
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| Opportunity Cost |
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| Definition |
- Unrecoverable time and value.
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| Time consumers |
- Research
- Reviewing resumes.
- Pre-qualifying candidates
- Arranging interviews.
- Telephone tag
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| Functions Neglected |
- Working with salespeople to improve their performance.
- Making sales calls.
- Strategizing.
- Preparing complete reports.
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