An extensive new Korn Ferry report finds that by 2030, more than 85 million jobs could go unfilled because there aren’t enough skilled people to take them. Two-fifths of people are unhappy at work and are considering leaving their job in the near future, according to a new survey by McKinsey.
In India, that figure jumps to more than 60%.
Regardless of how well an organization manage their hiring processes but staffing shortages are bound to occur. There is always new skillset or critical client demand or employee exit which creates chaos in teams which mount pressure on internal recruitment engine. There is always need of extra hands to address these contingencies. In these scenarios, the best decision is to reach out a specialist from recruitment field i.e., a staffing partner who can help to manage this chaos.
A good staffing company spends many years building their own talent network through existing candidates, networking, referrals, and conversations with candidates daily. On other hand, organization usually doesn’t have the requirement and resources to constantly engage with talent.
These staffing companies recruit candidates to fill job openings with their clients, and help candidates find career opportunities in their chosen field. Using a staffing partner to hire employees allows an organization to focus on the growth of their core business, take on additional projects without adding a long-term hiring cost in recruitment function. They can own entire recruitment cycle so that you can gain access to the best talent in the industry.
These staffing companies provides mainly 3 types of hiring services:
- Permanent Hiring
- Contract to Hire
- Contractual Hiring
These services can be full-time or part-time, temporary, contract-to-hire, or on a full time hire basis. The question arises when an organization need a strong Staffing partner.
When to start looking for a strong IT Staffing Partner
- It is a challenge to find right IT talent in the market.
Economies are growing and job market demand for skilled & qualified talent is outpaced supply. The competition in attracting talent is too stiff, it is harder for organizations – especially start-ups & smaller organization to cut through the chase and attract the right talent.
There are some challenges industries is facing in finding and retaining right talent:
- Stiff competition industry wide
- Shortage of job ready talent from education institutes
- Salary expectations are sky rocketing
- Shift in employee needs
- Inconsistent candidate evaluation process
- Poor Candidate experience
IT Staffing partner can enable access to the recruitment insider knowledge of skills available, candidates both active and passive, compensation range, and local market trends.
- Job posting but not visible to candidates. Organization brand doesn’t have visibility
Job postings with detailed job description are common way organizations reach to potential employees. Organization reach may not be enough and mere job postings are not reaching to relevant set of candidates. As per recent SHRM study, more than 50% of organizations are not able to attract quality talent. This is due to lack of their online presence and reach to candidates. Even social media postings bring large number of unqualified candidates. And this is due to unstructured and wide reach to large audience but not right audience.
IT staffing partner with their core staffing business and efficient processes can reach out to candidates quickly. Time is of the essence here! Right staffing partner can be proved successful in hiring the talent they want.
- There are no active candidates but need to reach out to larger talent base through passive candidates i.e., candidates who are not looking for job
Every organization want to hire the best talent for their requirement but if talent is not looking for the opportunity. The reason can be comfort in existing job, salary satisfaction, location, domain or technical skill is niche. There may be possibility the candidate is not actively looking but interested in job change or not looking but also not happy in current role. You won’t know until you speak to candidate.
As per LinkedIn, 75% candidates are employed and currently not open for job change but some percentage is ready to discuss any good opportunity. It also includes the 15% of professionals who are preparing them for change.
It is long process which needs specialized skill and huge database of candidates which IT Staffing companies maintain and follow.
When an organization has immediate positions, staffing company can provide qualified candidates quickly from active and passive candidate database.
- The recruitment cycle requires niche skills but internal team doesn’t have experience in required skillset
Sometimes organizations are looking for talent in specialized skills, or someone with certain expertise. It is not possible to build each skill in internal team. A staffing partner can set an organization up with a skilled staffing expert and save precious time by sourcing candidates, screening resumes, checking references, and scheduling evaluations.
Technical and domain experts in staffing partner team can help to find relevant candidates while saving organization time and money so they can focus on their core business areas.
- There are several urgent requirements and internal team doesn’t have the capacity and time to hire quickly
An organization may have project need, an employee exit or critical new business and need an immediate talent. The longevity of open position drains organization time and cost.
An established staffing partner can provide qualified talent many times in less than 24 hours due to its widespread network of candidates.
- If doesn’t want to invest on internal talent acquisition team
The hiring cost is rising every day as it involves a long and complex stages such as job posting, screening resumes, scheduling interviews, feedback cycle, BG check, and many more. So, organizations are forced to spend a lot of time and resources on the hiring process. And even after all that spending, there is no guarantee that right talent is identified and joining.
By using a staffing partner, you can get someone ready to do the required work. The staffing partner will charge you on position fulfilment. There is no hassle to hire and fire organization’s full time employees when the requirement is filled and assignment is over. You don’t worry about compensation, utilization, employee benefits, or finding an alternate work for full time employee. There is smooth and streamlined exit process which is great benefit to organization and staffing partner.
- There are peaks and valleys in your job requirement throughout year.
All organizations face a period with a massive volume of incoming business and other times they are left with no projects at all, there is uncertainty in volumes and requirement. In such scenarios when organizations have more projects on hand, they need more workforce to complete the projects on time, in such cases organizations can take help from a specialized staffing partner.
It doesn’t make sense to hire recruitment team as full-time employees and train them. Training new recruiters require a significant investment of both time and costs.
- Mass requirement is required due to sudden growth in business
Recruiting for a growing business or critical project needs time and resources away from organization annual plan and initiatives. Internal resource movement to focus on sudden growth can impact annual goals, delays in existing projects and operational issues. Organizations who are serious about finding talent look to a staffing partner who specializes in fulfilling volume-based requirement.
Being a staffing company, they usually possess a wide network of candidates. They are always stay in touch with active as well as passive candidates. Whenever there is right opportunity arises, they can directly reach to suitable candidate.
- Drop outs and Fake candidate are too high
Staffing agencies can be 1st line of defense in candidate hiring process specially in virtual evaluation process. They can check references, screen resumes, shortlists candidates, schedule interviews, and place candidates with complete due diligence.
Conclusion
Every organization needs hand-picked talent to achieve their goals and objectives. Attention on core business and acquiring right talent simultaneously is tight rope to walk. So, identifying dependable and right staffing partner is must for organization long term success.
i-Qode Digital Solutions is an IT Services, Staffing and Product Company since 2020 on mission to provide high-end technology services & talent that help our clients to drive their bottom line. Our recruitment segment has a specialized recruitment team that excel in offering innovative and efficient hiring solutions to meet your fluctuating candidate needs. Our extensive reach across various sectors and technologies gives you access to a wide pool of seasoned and skilled IT professionals.
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