According to the Centre for Economics and Business Research, the cost of hiring can exceed $40,000 (₱2,000,000) per employee. A good portion of that amount goes into the tedious recruitment process—the time which managers spend discussing the job opening, advertising, screening resumes, interviewing, and background checking, among many others.
Hiring talents, in particular, can be a daunting task. While a quick keyword search may give you a pool of applicants, how exactly do you narrow down the list and find the best candidates? This is where a recruitment firm comes in.
The expertise and service that a recruitment consultant provides can help mitigate the cost of hiring. When looking to hire a recruitment firm in the Philippines, here are a few important traits you should look for.
Businesses often fall under a specific industry, and it’s important for your potential recruitment firm to have a solid understanding of that particular trade. Great recruiters have a pulse on specialist markets, what are the necessary skill-sets and experience levels, who are currently available, where they are, how to reach them, and the current complexities of getting them for an interview.
Whether you are looking for Filipino talent for a C-level role or a senior web developer, the best recruitment consultancy for your organization is the one who can act as your eyes and ears in your industry’s talent market.
Covers both Active and Passive Markets
Active candidates are those actively looking for work and are often searching for an opportunity for various reasons. Passive candidates, on the other hand, are those who are likely employed but aren’t currently looking for a new opportunity.
Get a firm that targets active and candidates. The benefits of sourcing passive candidates are numerous, including the potential for high retention (they’re not looking and currently gainfully employed), less competition (they’re likely to interview with other companies), valid qualifications, and very recent experience.
Has an In-Depth Process
Anyone can do a quick keyword search to find potential candidates. Since a lot of Filipino workers are now active on online job boards and LinkedIn, great recruiters go beyond those. They are diligent and have depth in their recruitment process, spending a reasonable amount of time in sourcing talent, and only introduce people that are the best fit for the client’s needs.
Engages Candidates Effectively
Candidate engagement is a skill that any effective recruiter has. According to Matt Lowney, VP for Talent and Operations at The Buntin Group, a good recruitment firm should have a relationship with candidates that makes a difference and causes them to engage with the opportunity.
If a firm can engage a candidate better than you, then it is well worth the investment. Moreover, even if the candidates do not eventually go on to become your employee, the recruiter you hired represents you—and the relationship the firm built with them may well forever be the image of your brand to them.
Many recruitment agencies charge as high as 25% of the position’s annual salary. This can get even higher for in-demand roles and lower for positions with a surplus of available workers.
When looking for a Philippine-based recruitment agency, it’s important to look at whether they charge a one-off pricing across all position levels, or base their rates on the specific talent needs of a client. Competitive ones are the latter; charging clients with a talent sourcing percentages depending on the role because they understand that the level of work put into the recruitment process gets higher along with the position.
Offers Guarantee Periods
In addition to competitive pricing, all recruitment consultants offer guarantee periods. If a new hire does not work out for a certain period, you don’t pay extra, and they start the search over for you.
When hiring a recruitment firm to find Filipino talent, you should expect the candidate to be highly suited to the position in terms of skills and office culture. Great recruitment agencies must guarantee to provide you an alternative candidate for the same position if the original one leaves within two months. They have low attrition rates or occasions when clients request for a replacement.
Looks Out for Client’s Long-Term Interests
Great recruitment firms are interested in high retention and long-term value for their clients. When a recruitment agency is dedicated to looking out for a client’s long-term interest, they often go the extra mile and engage under exclusive appointment with clients for a short yet reasonable period.
Exclusive appointments mean working only with each other (the agency and the client) so that heavy investment can be placed in understanding the client’s business, the position that needs to be filled, and the bigger picture details that will make all the difference before starting a search for the right talent.
Positive Customer Testimonials
Just like when you do your usual recruitment, you do a background check and evaluation of their past work, especially if they have experience in sourcing the best Filipino talent. A great way to find out if a recruitment firm is effective is by finding out about their past and current clientele and what they say about that particular firm.
CEOs and HR managers have discovered the benefits of hiring recruitment firms in terms of cutting costs. To become effective in your search for the best recruitment company in the Philippines, be sure to look for these eight traits to reduce your stress in hiring.
SPECIALIST RECRUITMENT SOLUTIONS DELIVERING UNRIVALLED RESULTS
IN THE PHILIPPINES
Manila Recruitment is recognized as the leading recruitment firm in the Philippines for headhunting, executive search, expert, technical and IT headhunting. We share an unrivalled passion to help your business succeed by understanding your goals, then sourcing and providing you with your number one asset – driven, dedicated and exceptional people!
Experience the Manila Recruitment difference, and give your business in the Philippines a competitive advantage by contacting us today. Whether you are exploring an offshore solution, or are an established entrepreneur, SME or Multinational in the Philippines, our team has the experience and a tailored recruitment solution to introduce you to the top talent in the Philippines.