The latest numbers from the Bureau of Labor Statistics reinforced what employers already know: record low unemployment rates and a 97-month streak of job growth have created a tight job market. Companies are more and more likely to find themselves competing for a limited number of qualified candidates and seeking out new avenues to reach and appeal to potential employees.
An administrative staffing agency is an invaluable tool for a company looking to hire, particularly in this tight job market. In the United States, there are about 20,000 staffing agencies operating from 39,000 offices.
A staffing agency can act as a partner for a hiring organization, providing businesses with the opportunity to nail the right hire quickly. Here are four ways in which an admin staffing agency can provide that value to businesses.
1. Fill Positions Quickly
One study estimated the cost of open jobs in the U.S. alone at $160 billion per year. This estimate was based on the continuing addition of new jobs and the fact that many positions, particularly those requiring specialized or in-demand skills, remain unfilled for three months or more. According to the Society for Human Resource Managers, the average time to fill a vacant position is 42 days.
An administrative staffing agency can reduce the amount of time it takes to find, recruit, and hire a qualified candidate that is a good fit for the job and the organization. This significantly reduces the cost burden of positions that are left vacant for longer periods of time, as companies struggle to complete the recruiting process in-house.
2. Gauge the Fit
While vacant positions are a major expense, hiring the wrong person can be even more costly to an organization. One survey found that the average direct cost of a bad hiring decision to be $14,900; however, that estimate did not include the impact that hiring the wrong person has on productivity and morale.
When using a staffing agency a company can employ a candidate for a trial period before a permanent hire. The job gets done in the interim, and the company has the opportunity to see a candidate in the actual work environment before committing to an offer of permanent employment.
Learn more: The True Costs of Employee Turnover
3. Access Better Candidates
A business would have a hard time locating a passive job-seeker with the correct skill set, but an experienced agency can better match person to the position because of their understanding of both the candidate and the company.
Staffing agencies are always adding new candidates to their pool of applicants, marking each by talent, experience, and specialized skills, and keeping updated records on candidate availability and interest in a new position. By partnering with an agency, a company can access candidates that they would not encounter through traditional means or advertisements.
4. Save Time and Resources
The hiring process is time consuming, requiring a great deal of effort and coordination between human resources, hiring managers, and executives throughout the organization. A staffing agency not only takes on the responsibility of locating qualified candidates, but it can also be used to create advertisements, conduct initial interviews, pre-employment testing, drug testing, and background checks.
Partnering with a staffing agency for administrative recruitment not only reduces the time to hire a new employee, but it also frees up internal resources that can be better spent on strategic initiatives.
A staffing agency, like Sparks Group, can provide a significant benefit to a business with an administrative vacancy. The agency’s expertise and access to qualified, pre-screened candidates not only reduces the time to hire, it also reduces the cost and administrative burden of in-house recruiting. Additionally, access to a pool of qualified workers allows for a company to work on a temporary or contract basis, maintaining the company’s flexibility and agility to respond to a changing business environment without the costs associated with permanent hires.
Sparks Group is an administrative staffing agency that pairs top companies with exceptional talent across a range of management, support, and human resources roles that are vital to core business initiatives. We work closely with our partners to understand their unique needs and specific administrative job criteria and create a strategic recruitment process designed to attract top administrative talent three times faster than the industry average.
Request a free consultation with our expert team of staffers and recruiters to learn how we can help you quickly find top administrative talent.
Sources:
1. https://www.nytimes.com/2018/11/02/business/economy/jobs-report.html?module=inline
2. https://americanstaffing.net/staffing-research-data/fact-sheets-analysis-staffing-industry-trends/staffing-industry-statistics/#tab:tbs_nav_item_1
3. https://fortunedotcom.files.wordpress.com/2014/11/report-empty-desk-final-.pdf
4. https://www.shrm.org/hr-today/trends-and-forecasting/research-and-surveys/Documents/2016-Human-Capital-Report.pdf
5. https://resources.careerbuilder.com/recruiting-solutions/how-much-is-that-bad-hire-costing-your-business
