Written by: Greg Weiss
While Soulidify is known for its capability in recruiting operational other halves to business Visionaries and founders, aka their ‘ make things happen leaders’ the firm is also a member of NPAworldwide, a vast network of owner-managed recruitment firms spanning the planet. I often get asked why small-to-medium-sized businesses (SMEs) should use recruitment firms, instead of themselves. Here are 5 reasons why you should consider employing a recruitment firm like Soulidify.
1. Reduced Time to Hire
According to a survey by Indeed, the average time to fill a vacancy in Australia is 45 days. However, companies with strong recruitment processes can reduce the time to hire by up to 50%, according to a study by Bersin by Deloitte. For example, Atlassian, an Australian software company and employer of choice, has a recruitment process that takes an average of 28 days from application to offer.
Retained recruitment firms, with their pool of qualified candidates and expertise in recruitment, can help Australian employers reduce their time to hire and improve their recruitment processes.
2. Access to a Wider Candidate Pool
According to LinkedIn, only 30% of the global workforce is actively looking for a job. This means that Australian employers may miss out on high-quality candidates who are not actively seeking employment. For example, Google Australia, an employer of choice, has a recruitment team that includes sourcers who proactively seek out and engage with passive candidates.
Retained recruitment firms can similarly provide access to a wider pool of passive candidates through their networks, databases, and resources.
3. Expertise in Recruitment
According to a report by the Australian Human Resources Institute, the cost of a bad hire can range from $7,000 to $10,000 for a junior employee to up to $75,000 for a senior executive. Retained recruitment firms can reduce the risk of making a bad hire and the associated costs through their expertise in recruitment. For example, Westpac, an Australian employer of choice, has a dedicated talent acquisition team that includes recruiters with specialized skills and experience.
Retained recruitment firms can similarly provide expertise in recruitment and help Australian employers improve their recruitment processes.
4. Better Negotiation Skills
According to a survey by Hays, 48% of Australian employees have never negotiated their salary. This means that many employees may be leaving money on the table. For example, Atlassian, an Australian employer of choice, has a compensation philosophy that aims to pay its employees at the top of the market.
Retained recruitment firms can similarly provide better negotiation skills and help Australian employers attract and retain top talent by offering competitive compensation packages.
5. Reduced Risk of Hiring Mistakes
According to a survey by Robert Half, 80% of Australian CFOs said that a bad hire can impact team morale. Additionally, the cost of a bad hire can range from $7,000 to $75,000, according to the Australian Human Resources Institute. For example, BHP, an Australian employer of choice, has a rigorous recruitment process that includes behavioral-based interviews and psychometric testing.
Retained recruitment firms can similarly provide a thorough recruitment process that includes background checks, reference checks, and skill assessments to reduce the risk of hiring mistakes for Australian employers.In conclusion, retained recruitment firms, like Soulidify can provide valuable benefits to Australian employers, including reduced time to hire, access to a wider candidate pool, expertise in recruitment, better negotiation skills, and reduced risk of hiring mistakes. By partnering with a retained recruitment firm, Australian employers can improve their recruitment processes, attract and retain top talent, and ultimately save recruitment costs.
And by being part of the NPAWorldwide, Soulidify can help you with any recruitment need by introducing you to specialist recruiters we know can deliver your need, anywhere around the globe.
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Discover Top Talent with Soulidify
Recruitment
At Soulidify, we specialise in connecting HR leaders with exceptional talent in Sales, Project Management, Operations, and Human Resources. As a proud member of NPAworldwide, our global reach and local expertise empower us to deliver bespoke recruitment solutions that drive your organisation forward.
Talent Mapping with Soulidify
- Strategic Planning: Align your hiring strategy with your long-term business goals.
- Competitive Analysis: Gain an edge by understanding the strengths and weaknesses of your competitors’ teams.
- Risk Management: Mitigate the impact of unforeseen vacancies and market changes.
- Enhanced Retention: Identify and develop potential within your existing team for future roles.
Talent Pipelining with Soulidify
- Immediate Access to Top Talent: Our affiliation with NPAworldwide provides access to a vast network of professionals across various industries.
- Custom Recruitment Solutions: Tailored strategies that fit your specific needs and corporate culture.
- Agile Response to Market Dynamics: Quickly adapt to industry changes with a ready pool of candidates.
- ong-Term Partnership: We believe in building relationships that extend beyond filling vacancies.
Let us help you navigate the complexities of recruitment while you focus on what you do best—leading your business to success.
With our expert services in Talent Mapping and Talent Pipelining, aligned with the expansive network of NPAworldwide, Soulidify.com.au is your partner in strategic talent acquisition.
Call us today for a free consultation.
ABOUT THE AUTHOR
Greg authored 3 practical Career Books, and 1 Book helping Visionary leaders scale their businesses. He is one of Australia’s most experienced HR consultants and leading career coaches. He is the founder and owner of Soulidify and Career365. As an entrepreneur/business owner, Greg has experienced first-hand the joys and frustrations of starting and growing one’s own business.
