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Online recruitment marketplaces bring efficiency savings to UKs major corporations

Online recruitment marketplaces bring efficiency savings to UKs major corporations
The recruitment industry has been impacted by the arrival of recruitment marketplaces on the radar of HR departments all over the UK. During this time of shrinking HR budgets, when recruiters are being asked to do more with less, new technologies offer innovative solutions to increase quality and cut costs. As a result, the internet and the many new tools it offers are finally being taken seriously by major in-house recruiters/HR departments as a way to increase efficiency in the recruitment process.
Online recruitment marketplaces, which have been used to great effect in other areas, such as B2B sales, provide an invaluable tool by bringing a pool of interested buyers and sellers together onto a level playing field, saving both parties time and money. In recruitment this means employers are able to centralize recruitment, reduce time to hire and save as much as 30% on recruitment costs.
One of TalentPuzzle's clients, a major FTSE 250 corporation with 49,000 employees, is one of many companies which have taken advantage of recruitment marketplaces in order to centralize its recruitment process and reach a wider pool of recruitment consultants. The corporation has adopted the UKs first and largest recruitment marketplace, TalentPuzzle, to fill all roles that go to agencies, and has benefitted from a faster, smoother and easier to manage recruitment process. The expertise offered by TalentPuzzle also ensures that never more than the optimal rate of commission is paid to the agent - resulting in savings of between 15 and 30%.
TalentPuzzle offers a free tendering platform that matches employers with the right recruitment agencies, whilst also guaranteeing that a fair, market-clearing fee is paid. Employers are able to anonymously tender their vacancies to a network of peer-rated recruitment agencies specifying the fee they are willing to pay. Recruitment agencies may then bid to work on the roles at the specified fees.
In response to the demand of major companies, TalentPuzzle launched an improved version of the site in August 2010, in order to offer an enterprise quality service. If trends in recruitment continue, marketplaces such as TalentPuzzle expect to see demand for their service surge, as the UKs largest recruiters wake up to the latest way to stay ahead of the game.

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