In our recent Blog discussing the UK Job Market http://www.consultancygroup.com/blog/2015/06/uk-job-market-the-consultancy-group-review we highlighted that despite London employment experiencing an upswing; it is clear that there is a significant skills shortage across all of the main industrial sectors. With the market becoming ever more challenging when it comes to recruiting for these specialist areas, a topic under the spotlight for many businesses is weighing up the benefits between using an In house recruitment team over an external agency.
The main objective of any business will always be to source the best in market talent, in the quickest possible time. However, get this process wrong, and any immediate savings can be wiped out quickly.
Recruiting for specialist areas, like Finance for example, can often leave businesses being faced with hard to fill roles. With much of any In-house team’s time being taken on volume hires, it is increasingly more difficult for them to remain well networked in these areas, which can mean missing out on the markets best. Expertise gained from these specific types of hire are readily available in the agency world and making use of this makes good commercial sense.
While it has its obvious attractions, direct hiring is not going to become the solution for all recruitment challenges. A sensible approach would be for In-house teams to form strong and trusted partnerships with a select number of agencies that can complement or plug any gaps. It is important these agencies are then able to understand the business fully so they can source talent on a strategic rather than a last minute basis, and market the organisation effectively to target candidates. It’s about making the best of both worlds.
It is essential that in today’s market we utilise all of the tools available to ensure we really have identified the best talent, rather than the obvious targets who have been on the market for some time.