Monthly Archive February 2018

ByL J Doulton

Contingency: Why it just Doesn’t Work in Recruitment…Anymore

Why Contingency in Recruitment Worked

When the recruitment industry boomed, the best model to ensure you get the best candidates was always a multi-agency and contingency-based approach. The more agencies you had on board, the more connections you could reach out to via these 3rd parties. Each recruiter had their personal networks, and that’s still true. I have a vast network of IT project managers in Bristol. However, times and technology have changed. When any of my contacts find themselves looking for work, they will contact me, but will also be available on social media or easy to find online through job boards.

The Problem with Modern Contingency Strategies

As soon as anyone applies for one job on any of the available boards, every recruiter with access to it can find you. Social Media is another platform that’s use has grown exponentially for recruiters. You can let anyone who stumbles across your profile by searching using key skills know that you are available. LinkedIn will actually market your profile if you click on the option saying you’re open to opportunities!

When you have multiple agencies working against each other is not a case of widening the net anymore. You create duplicated efforts raising the price of recruitment. If a recruiter fills one in five roles that they work, they have to charge a lot more for the positions they do end up filling. Exclusivity is a simple concept but contingency is so embedded as the way work with agencies. That’s because before the internet and its services were available, it was! The average fill rate for the biggest agencies all of which tend to work on a contingency-based model fills one in five of the roles they work on. I know, I’ve worked for them.

The Best Recruitment Model

The terms of businesses I’ve made work so the fee is directly in the proportion of how committed a client is. The way business should be! Based on this, I have technology that allows me to simultaneously search every job board and certain social media sites through my own portal. It collates and prioritises the results from each in order of suitability into my platform allowing quick online resourcing.  A consolidation of the entire online market in one search, and that’s nearly everyone nowadays!

It also worth mentioning this: If you were looking for opportunities, and there are two jobs of interest, one being advertised by four agencies, the other directly through one, which one would you be more interested in? The assumptions that can come with multiple agencies being on board are generally damaging to your companies profile. Its best to find a good recruiter, be loyal and save yourself some money for a better service. No duplication, no high costs, an absolute no-brainer!