4 Factors to Consider When Selecting a Recruiter to Lead Your Search
By Nick Lorenca
What’s your process for solving complex day to day challenges in your personal life? When your car breaks down, do you bring it to just any Joe Shmoe mechanic? When the pipes in your house begin to leak, do you call the first plumber that shows up on Google? You don’t, you research and identify the best possible solution for your problem.
Your complex hiring challenges shouldn’t be handled any differently. Complex problems are solved by experience coupled with a proven process and specialized approach. When it comes to selecting a recruiter to assist with your hiring needs, the generic search firm just doesn’t cut it. The search firm you need is specialized, they focus on a niche category and they own that industry. They keep their ear to the ground, gaining access to top quality professionals in the market, whether those candidates are passively or actively searching for new opportunities.
When it comes to selecting a recruiter, consider these 4 factors.
Speed to Hire
Time is money. Days matter. What’s their average time to hire? How long do they estimate this search would take to complete? Speed to hire is defined as the total time a candidate spends in the hiring funnel from initial sourcing to accepted offer. It considers how quickly candidates are actioned and scheduled for interviews and lowers the likelihood of losing top talent to competitive offers. Speed to hire is one of the most important factors you should consider before selecting a recruiter, it can be the difference between a quality hire and an endless search.
Who’s Doing the Work
Consider how the recruiter will reach candidates and how they will vet those candidates. Does the recruiter have an extensive network? Will access to that network grant you top quality candidates? Before you hire a recruiter, find out who specifically will be doing the recruiting. Does this person have enough industry experience to understand technical aspects of the role? The best niche recruiters are former industry professionals with experience dealing with the same problems you find yourself consumed with.
Replacement Guarantee
Employee turnover can be a killer to your company’s bottom line. To remain successful, you need to get your hire right the first time. However, even the most thorough vetting doesn’t uncover everything and sometimes things just don’t work out, for whatever reason. So, when things do go wrong, find out what sort of protection the recruiter will provide. Will they backfill the position? Do they charge to backfill? How long will they guarantee the performance of their candidate(s)?
Off-limits Policy
There’s nothing worse than negotiating against yourself when it comes to candidate offers. It’s important to find out how the recruiter’s client list might affect their search with you. Make sure your competitors aren’t on their list because there is no fun in hiring a recruiter if you can’t poach from competitors. Another factor to consider is the total number of clients on their list, if the list is too large your recruiter will have difficulty locating quality candidates or any candidates at all. Lastly, how long will they wait before recruiting from you? There’s nothing worse than hiring a recruiter, having them fill a few jobs for you just so they can turn around a few months later and begin to poach your employees. The recruiter you choose to hire should treat you like a VIP, providing you with the exclusivity that leads to making a quality hire.
Outsourcing to a recruiter is a costly investment, and like making a hire, you want to get it right the first time. When the time comes to hire an outside recruiter, do your homework. Niche recruiters are best suited for specialized, difficult hires. Typically, niche recruiters are former industry professionals who have had to deal with the same hiring difficulties you are currently facing. They spent years in your shoes, now they’re available to assist with your hiring needs. Choose a recruiter in your niche, research them and gather information related to the aforementioned factors, then give them a call. Ask plenty of questions and be sure this recruiter is deserving of your valuable dollars. Not every hiring situation requires a recruiter, but when it does, you must make the right choice.
About the Author: Nick Lorenca is a content marketer and sourcing analyst for a boutique recruiting firm, Fintech Executive Search Consultants. The recruiters at FESC have spent 20+ years solving challenges for some of the fintech and payments industries top companies. For unique perspectives on common recruiting problems and access to top quality talent visit our website or Linkedin company page.
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