Recruitment agency save your business time because they take care of the initial steps in the hiring process. There has to be a reason why the demand for HR services, especially executive search is booming in Vietnam. There has to be a reason as to why large numbers of recruitment agencies are sprouting out over the years. There has to be a reason for their continued success. There has to be a reason why the industry has grown rapidly throughout the years.
Today, the recruitment industry has stood the test of time. Despite recent political turmoil, Brexit and the global economic downturn, the industry continues to bring in an approximated 35.7 billion outperforming other industries such as advertising, arts & culture and F&B industry (Danielle, 2019).
Extensive manpower needed
Firstly, large firms should definitely use recruitment agency as compared to in-house human resource department. High hiring demand will put strain on the human resource department of the company. In addition, they might be unable to find sufficient people in time for the company resulting in revenue and profit being adversely affected. With a recruitment agency being hired, they will be able to find the required number of workers as long as sufficient time is given.
Greater access to the pool of candidates
Next, recruitment experts have larger access to a greater pool of candidates. These candidates are already in the network of the recruitment agency and the agency and recruiter have accumulated this network over a period of years. With word of mouth and recommendations, the agency is able to further expand the network to friends and relatives of jobseekers. This is especially useful for large companies entering into a brand new country or region with no contacts and networks in place.
Recruitment Agency knows Unique Industry Insights
In addition, recruitment agency also has industry insight that companies might not have. They have more specific knowledge and know-how to sieve out the candidate who is the most suitable for the opening position. This allows the recruitment agency to easily find the best-fit candidate, not only with the appropriate skills for the job, but also the mindset and attitude – crucial factors to any employer.
Moreover, it is vital for them to find the right candidate due to the high financial and labour cost of replacing and finding a candidate.
Facilitating job matches through psychometric test
Lastly, recruitment agency is able to provide a unique psychometric test for all candidates reducing the chances of a job mismatch. A psychometric test is defined as a standard questioning system based on measurable norms to quantify a candidate’s mental capabilities and behavioural style. It is based on both scientific and psychological research and accurately depicts how the candidate will handle specific responsibilities and situations in the work environment (Campling, 2019).
Essentially, the ability to interpret the results is also key as candidates with negative traits such as being easily distracted can be eliminated straight away. Candidates with traits essential for certain roles such as having an eye for detail for an accounting job could be shortlisted. Thus, this unique psychometric test if done properly is able to save time and increase the probability of a job match significantly.
Limitations of psychometric test
However, like all personality tests in the world, the psychometric test is not 100% accurate and will be subjected to bias and inaccuracies if not properly administered. Candidates might choose the option that makes the most logical sense instead of choosing the option that they normally do. They might not be able to control their emotions in certain real-life situations. As a result, the validity of the psychometric test will be greatly reduced.
In conclusion, having a recruitment agency to aid the hiring process will greatly help the company. This will allow the company to focus more intently on their main business instead of fretting over new hires. Yet, communication between the recruiter and hiring company is vital in ensuring that the interests and goals between them align.
This way, the recruiter is able to clearly know the kind of candidate that the hiring company is looking for. While recruitment agencies are growing rapidly, there is still room for improvement as they try to expand their network, reach and processes to facilitate the hiring process.
Bibliography
James, Danielle. “The Recruitment Industry Today.” Growth Partners, Growth Partners, 29 Mar. 2019, https://growthpartnersplc.co.uk/blog/recruitment-industry-today.
Campling, B. (2019). Recruitee. Retrieved from Recruitee: https://blog.recruitee.com/psychometric-tests-for-recruitment/#:~:targetText=What%20is%20a%20psychometric%20test,psychological%20research%2C%20studies%20and%20results.