The recruitment system might seem like a tiny fraction in the corporate chain, but you might be surprised to know that everything else in the company revolves around it– playing a much bigger role that redefines the entire organization.
It might not be blatantly acknowledged, but it’s the recruiters that placed your most valued employee there. The one who is bringing so much to the table and achieving milestones after milestones? That was made possible by them.
It was through their skills and relentless efforts that they were able to source employees that became huge assets to the team. This is why headhunters are paid so well, the value of LinkedIn is constantly growing, and there is a perpetual fierce competition for top talents.
Not to mention that they are in charge of implementing policies that promote healthy company culture, establish employee diversity, ensure cultural fit, and many more, which perpetuates stability and order to the organizational structure in totality.
Recruiters are certainly not to be undermined.
What is recruitment, its functions and types
By definition, recruitment is “the process of adding new individuals to a population or subpopulation (as of breeding or legally catchable individuals) by growth, reproduction, immigration, and stocking”.
In business, it’s scouting prospects to join your company to fill vacancies or needed positions that can help the organization grow and move forward.
Functions of Recruitment
However, recruitment goes beyond supplying jobs and people. It also encompasses several tasks and responsibilities that intertwines all the elements requisite to a successful hire such as:
- – Honing and exhibiting excellent organizational and interviewing skills to hire successfully
- – Understanding the latest trends on the talent landscape and reading reports & analytics to better and modify hiring practices
- – Implementing feasible and impactful hiring strategies
- – Integrating modern tools and technology such as recruitment software (e.g. Applicant Tracking System, also known as ATS software) to bolster work productivity
- – Developing policies that promote company diversity, culture, and cultural fit
- – Strategizes how to continually improve employer branding
5 Types of Recruiters
Those are the main functions of recruitment, but keep in mind that there are 5 types of recruiters that have specific roles. Understanding them and knowing what your company needs will be vital in optimizing your recruitment system.
Internal or Corporate Recruiters
These recruiters comprise your very own HR department. They work in-house and process everything from recruitment to screening down to onboarding.
Much like headhunters, contingency recruiters are people who are paid a fee once a candidate is successfully hired. They have to make sure that they get the best of the best until the client is pleased and decides to onboard the applicant.
These recruiters (usually an agency) are very much in demand for the hospitality industry. They focus on hiring temporary or contractual employees optimal for short-term projects.
Outplacement recruiters are approached by companies as an act of goodwill. They help displaced members find a new job and provide a bunch of services, too, like career counseling, job hunting, etc.
Usually works in agencies, retained recruiters are often associated with contingency recruiters with a sole difference in payment fees. The former are paid upfront a fixed fee and get the rest of the payment for every successful hire (50% of the projected annual income of the candidate). A retained recruiter or agency continually provides batches of candidates to the client.
Importance of the Recruitment System
With the fundamentals set, it will be helpful to learn about the importance of having a strong recruitment system in place for the organization.
Sustainable competitive advantage
When you put hiring in the heart of your organization, it will improve your business. People are the movers and shakers of the business. They are what you’ll need to reach goals and objectives.
Thus, giving importance to strengthening the core of your recruitment system will give you a competitive advantage over competitors– something unique and a total game-changer.
Provides the highest ROI
According to the Boston Consulting Group, their study provided valuable insights and proved the recruitment gives the highest ROI among other HR functions. It shows the employees you source and hire can be profitable and beneficial.
To add to that, American Express stated how companies that are effectively hiring talents get twice the profit margin than those that aren’t.
This will be vital because businesses need to consider figures to ensure success and survival.
Secures future leaders
With the right hiring strategy and methodologies, it will be helpful for you to screen the right candidates that can, ultimately, be ideal for tenureship.
There are plenty of ways to find and target applicants. You can use recruiting software such as an ATS system to make things more efficient for your team. It can lead you to several talented individuals with little effort. From there, you can focus on narrowing down the choices by pre-screen calls, candidate assessments, and so forth.
With the suitable fit– be it technical skills and soft skills– it will raise the odds of finding future leaders of your company.
Improves employer branding
Depending on your current talent pool, it can make or break your overall employer branding. The people in your organization, the company culture ingrained, and more say a lot about the brand.
This is a big part of every recruiter’s duties to determine the right fit that aligns with the business. The right formulas will lead to the right equation, leaving you with a great perception of the market and their likelihood of joining your team.
Leads to better hiring decisions
This is exactly what a system is made for: to implement a well-put structure for the organization to follow. It accounts for the relationships, processes, and resources that are involved for maximum efficiency and productivity.
Each element will have a significant impact on the operations that will allow for an overall progressive and meaningful recruitment system. You can read more about it here.
The recruitment system might seem just like one part of the whole operation, but it yields a much, much valuable importance that can redefine the organization.
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