In-house recruitment creating false economies, research claims
The legwork required to recruit for a specialist role can amount to up to 18 hours alone – the equivalent of nearly £400 in time costs based on a typical in-house recruiter salary of £30,000.
When combined with advertising fees of around £3,000, this figure shoots up to a hefty £3,400, according to findings by PR and communications recruiter VMA Group.
The company analysed the time implications in sourcing a specialist professional, breaking down all the elements into their relevant costs including writing an advertisement and job specification –factoring in internal review and approval - identifying and negotiating with jobs boards, reviewing approximately sixty CVs, conducting six first stage interviews and making feedback calls to candidates. It also researched fees for advertising across major trade publications, national newspapers and online platforms.
The resulting figures were up to £2,000 more than placement fees typically charged by outside specialists.
Lucy Cairncross, head of VMA Direct – VMA Group’s direct sourcing arm for entry and mid-level talent - said, “While in-house recruiters may have the appropriate expertise and networks to cost-effectively source talent within their specific industry, when it comes to recruiting for professionals with specialised skill sets – for example in HR, communications, PR, marketing or finance – lack of specialist knowledge can mean in-house recruitment is more often than not a false economy. Social media channels and jobs boards can go some way in providing access to candidates, but the huge volume and variety of job seekers using these mediums can mean a lot of sifting is required.
“Conversely, external recruiters are able to utilise existing networks and in-depth industry knowledge to attract talent quickly and effectively, which in turn dramatically reduces costs.”