Every organization relies heavily on its human capital for operational success–especially in the technology sector. A forward-thinking, modern technical staffing firm can help provide an efficient, cost-effective solution for hiring.
When you need to ramp up your workforce with IT and tech personnel, the recruitment process can be a drain on both your Human Resources department and your budget.
Not augmenting your workforce when you need additional manpower can come at the expense of your existing employees, your operations, or both.
What are the characteristics of a modern technical staffing firm?
- Recruiters understand which candidates can fit within the culture of your organization
- Candidates are carefully screened using assessments and ability testing
- The firm is looking for a solid relationship with your company, to help staff at any given moment
Now, let’s look at 12 ways your business can save money:
1. Save on advertising costs
When your HR department is responsible for the recruitment process, you’ll have to cover the costs of creating job postings and listing them on job sites like Monster and Indeed.
A staffing agency already has a talent pool it can approach, either by way of a quick email blast or over social media networks.
2. Save on talent screening costs
When applications start to come in, the initial screening process takes time—time you’re paying your employees.
Even if you use an applicant tracking system, it’s still a drawn-out process. You’ll always receive a lot of applications from unqualified candidates.
An experienced technical staffing firm has pre-screened candidates that may be a perfect culture fit, which reduces screening time considerably.
3. Save on ability and aptitude tests
More employers are using online testing services to determine whether candidates possess the skills necessary to succeed in a position.
However, these services can be pricey if you’re only looking to fill a handful of positions each year.
Staffing agencies that use these services as a staple of their recruitment process absorb the costs.
4. Save on interviewing time and costs
Depending on the position that needs to be filled, candidates can be interviewed by phone, by teleconference, or in person.
This takes up a lot of time, especially if there are multiple rounds.
In most cases, a staffing firm takes care of all of this up to the final interview round. Your potential number of candidates can be effectively narrowed down to two or three.
5. Save on administrative expenses
Since a worker placed by a technical staffing agency is an employee of the agency, all of the administrative work and costs are the agency’s responsibility.
6. Save on training
Oftentimes, new hires have to be trained when starting out in a new position.
When you work with a modern technical staffing agency, you can ask to be given only candidates who possess all the required skills and experience.
That means a worker hired by the agency can hit the ground running immediately.
7. Save on benefits spending
Because the recruited worker isn’t a salaried employee, you don’t have to cover the costs of benefits such as health care, 401k, etc.
Agencies typically provide these benefits for the professionals they place, once they’ve completed a prerequisite number of hours.
8. Save on financial liability for discontinued employment
When it comes to your contracted, salaried employees, you have the commitment to provide them with severance pay in the event of layoffs.
These costs don’t apply for temporary workers placed through an agency.
9. Save on the “hire-fire-repeat” cycle
A great hire is someone with the right skills, fits into your company culture and adds value to your operations.
As mentioned, a modern technical staffing agency knows its candidates performance and personality very well.
This greatly increases the chances you’ll secure someone who’s a good match for the position.
It reduces expenses associated with unsuccessful hires.
10. Save with reimbursement for a bad hire
Many staffing agencies offer some form of reimbursement when a hire doesn’t work out.
Or, they provide a replacement free of charge.
11. Save on overtime costs
Overtime is expensive, especially with the new regulation that raises the threshold at which workers no longer qualify for overtime pay (from $23,660 to $50,000).
That means if you’re dealing with increased demand, paying employees for overtime can become an expensive endeavor.
Instead, using contingent workers can offer you the flexible workforce you need at a much lower cost.
12. Save with a group discount
Some staffing agencies offer discounted services if you need multiple positions filled or if you have a recurring need.
This can reduce the costs of recruiting temporary workers even further.
Working with a modern technical staffing firm is a highly cost-effective way of finding the candidates you need to fill out your workforce.
Outsourcing part or all of the recruitment process can greatly reduce the expenses associated with the hiring process.
If you’re in the market for tech talent, integrate partnering with a reputable staffing firm into your talent acquisition strategy.