Looking for a skilled data scientist these days is like searching for a needle in a haystack, except the haystack is the size of a desert. With highly capable candidates in short supply, companies must compete fiercely for this rare commodity.
That's why it's crucial to have an intelligent recruitment strategy in place, such as retaining a recruiter, to help you access top-notch talent and promptly fill open positions with the right candidates. But is hiring a recruitment agency on retainer the best approach for your business?
We answer your biggest questions on this topic, highlighting the key considerations of a retainer to help you determine whether it’s the best move for your company.
What are the main benefits of working with a recruiter on retainer?
What are the drawbacks of having a recruiter on retainer?
How does having a recruiter on retainer impact your internal HR and recruitment processes?
How do you make sure your retained recruiter aligns to your hiring strategy?
How can you build trust with a recruiter on retainer?
How do you measure the success of your relationship?
Working with a recruiter on retainer helps you to quickly and efficiently secure a top-notch hire; the agency spends time really understanding what your company is about, your goals and the kind of people you need on your team.
As a result, they’re better equipped to develop a more effective recruitment process, meaning they can develop targeted sourcing strategies, such as leveraging their specialized network, harnessing a range of Rec-Tech solutions and identifying ‘passive candidates’. In the end, these tactics will give you a better shot at securing quality candidates, all without wasting lots of time.
Retained agencies offer additional benefits, including conducting accurate screenings to reduce time wasted on unsuitable candidates. As they become more familiar with your company's culture and team dynamics, they’ll present increasingly suitable candidates.
On the flip side, working with multiple agencies can result in a flood of resumes from ill-suited candidates, making the screening process tedious and time-consuming. Moreover, engaging multiple agencies for their vacancies may result in damage to your brand in the marketplace. Because this approach leads to longer time-to-hire and can cause frustration among candidates, as agencies often prioritize speed over quality using a "fastest finger first" approach.
Whereas working with a retained recruiter can boost your reputation as an employer — the recruiter has a better understanding of your company's culture and values, making it easier for them to engage candidates in a meaningful way, so they feel more valued. This approach gives everyone a much better experience — candidates, clients and hiring managers alike.
The primary drawback is that it’s a commitment. To get the maximum value for your investment, you have to be serious about hiring. So, if you're unsure about the number of hires you’ll need or the types of positions you want, it might make more sense to use a recruiter on a contingent (no higher, no fee) basis. This is because you only have to pay the recruiter if they successfully find a candidate for your open position, which might be a more cost-effective option than paying a recruiter upfront or on a retainer in the short term.
Alternatively, if you want to bring on board superior talent for key strategic roles, such as niche roles requiring specific skills or experience, then a retainer service is the way to go. For one thing, they often focus on a particular industry, so they can develop in-depth knowledge and connections that allow them to provide more effective recruitment services. Also, because you’re paying them upfront, they're more dedicated to filling that position for you. That extra focus means they'll put in the time and resources needed to find the perfect person to join your team.
We get it, though — taking a leap of faith with the retainer service can be daunting, no matter how committed you are to hiring. You can minimize the risk by doing your due diligence in choosing a reputable and experienced agency. When researching potential retainer services, ask about the agency’s track record of success in the gaming industry. You’ll gain a better idea of its ability to identify and attract qualified candidates who’ll slot perfectly into your company.
Having a recruiter on retainer should seriously up your hiring game, without adding extra burden on your internal team. We wager that your internal team is juggling lots of things at once, and finding the best people for those hard-to-fill roles is a real challenge. A retainer recruiter can be your wingman, providing extra help and expertise to take on those difficult-to-recruit positions while your internal team focuses on other crucial tasks.
The retained recruiter can also positively impact your recruitment processes because it can bring a fresh perspective and new ideas to help streamline and optimize your hiring practices. For example, a retained recruiter might introduce you to new recruitment technologies such as social media scraping tools that can help you find and screen top candidates more efficiently. These tools allow you to search social media platforms for potential candidates and can help you identify individuals who might not have been actively seeking employment but who have the skills and experience you're looking for.
To make sure your retained recruiter understands your hiring needs and priorities, in the first instance, you need to provide them with clear instructions and expectations. The agency should give you the opportunity to do this in an initial session, where you can sit down together to discuss your company, its hiring needs and your goals for the project. The more info you dish out, the better your recruiter can get on board with your hiring strategy.
During this process, you’ll create a roadmap for your recruitment project. The roadmap should include key milestones and deliverables — such as timelines for candidate sourcing and screening — and clear expectations around communication and reporting. This makes sure that everyone is on the same page about how the project will be handled, and there are clear objectives for achieving your recruitment goals. Having a roadmap also means you can spot potential issues early on and fix them before they become bigger problems. This keeps things moving smoothly and helps you avoid any frustrating delays in the recruitment process.
Fostering trust with a recruiter on retainer is like building a model in data science - it takes time and precision, but the results are worth it. Work with your recruiter to create a powerful algorithm for success that yields great candidates for your company. Benefit from their expertise and industry insights, uncovering cutting-edge recruitment techniques that optimize outcomes and simplify your hiring process.
When it comes to cultivating trust, good communication is key. Make sure you're providing prompt feedback on candidates, addressing any concerns, and keeping your recruiter informed about shifts in your hiring strategy. By maintaining an open and candid dialogue, you'll lay the groundwork for a thriving partnership.
As you join forces to pinpoint and attract exceptional talent, you'll be impressed by the high-caliber candidates your recruiter brings to the party and the robust teams they help you assemble. This team effort can reinforce trust and bolster your alliance over time, making your recruiter feel like the sidekick you never knew you needed.
One effective way to measure success is by mapping out your recruitment project from the very beginning. By establishing clear goals and milestones upfront, you can easily see how far you've come once the project is complete.
After the project is done, take a step back and evaluate your results. Did you achieve what you had set out to do? Did you hit all your goals and milestones? Use this information to identify areas of improvement for future recruitment projects. It's also useful to check in with the candidates you've hired. If they had a positive experience with the recruitment process, that's a good sign that you and your recruiter are doing something right.
A little reminder, though: the success of your relationship goes beyond just finding great candidates. It's also about building a strong and trusting partnership that can help you achieve your recruitment goals over time. By regularly evaluating your progress and seeking feedback from candidates and your recruitment partner, you can continue to refine your recruitment strategy and secure the best talent.
Hiring a recruiter on retainer could be the ultimate fix to all your recruitment headaches. To recap, this hiring strategy helps you:
Quickly and efficiently secure top niche talent for hard-to-fill roles
Save you time and money over the long-term through a more targeted approach
Build better relationships with candidates by developing stronger connections
Boost your reputation as an employer that values and invests in its workforce
Give your team more time to focus on other important tasks
Develop innovative ways to optimising your hiring practices
Ready to take your data science team to the next level? Let's explore your company's hiring needs and see if partnering with a recruiter on retainer is the data-driven approach you need to find the top talent in the field. Get in touch.
