3 Ways Your Business Can Benefit from Working with a Contingent Firm
Good employees are the backbone of any successful organization. However, finding, vetting, and hiring qualified employees is not always easy. It can also be very time-consuming. As a result, many businesses rely on outside organizations for the recruitment of employees.
Businesses can choose to work with individual recruiters or staffing agencies, both on a contingent or retainer basis.
When it comes to finding employees through a contingent firm there are several, distinct advantages. Depending on the needs of your business, you can decide if it’s right for you.
You Only Pay When the Employee is Hired
One of the benefits of working with a contingent firm is that you don’t have to pay money in advance. Contingent, by its definition, means that something (payment) happens only when certain conditions (the hiring of an employee) occurs.
This is in direct contrast to a retainer agreement. If you work with a staffing firm that uses a retainer model, you pay money upfront so that they can match your business with applicants.
Finding qualified candidates takes time and resources. Staffing firms have to find and recruit job-seekers who are a good fit for your open position. With a contingent firm, you don’t have to pay any of these costs upfront. It is only when the job is filled successfully does a business pay for the work that went into finding a particular candidate.
Not only does working with a contingent firm save you money and labor by doing all of the work of finding an employee for you, they only charge you once you are satisfied with the end result.
A Contingent Firm Can Find the Perfect Candidate Quickly
Another benefit of working with a contingent firm is that they can find a qualified candidate for your business quickly.
Contingent staffing firms have a proven method for finding and vetting candidates. Not only do they verify the skills and background of applicants through testing and references, but they also make sure that the candidate is a good fit for the company culture. A good staffing firm can do all this reasonably quickly. After all, it’s what they do every day.
A quality contingent firm will work from the onset to find the right candidate the first time. When looking for a contingent staffing firm, look for one that seeks to establish a relationship with your business. This ensures they will find the best match for your open positions because they took the time to actually learn about your business.
A Contingent Firm’s First Priority is their Business Client
Because of the way payment is structured, a contingent firm’s number one priority is the business that they work with. A contingent firm does not receive payment until a job has been filled. As a result, they need to make sure that their client is satisfied.
When deciding which contingent firm your business should work with, you should look for other factors, such as specialization, as well.
For example, some contingent firms work on finding candidates in only one industry, such as manufacturing or finance. If a contingent firm recruits in a specific industry, you can be confident that the vetting process will be thorough and more in-depth.
Key Points to Remember
Businesses often outsource the hiring process for good reason: they can get quality candidates quickly without wasting their own employees’ time and resources.
Working with contingent firms has its own distinct advantages. The payment structure ensures businesses won’t have to pay money upfront until they have hired a candidate. As a result, contingent firms seek to ensure that client satisfaction is their number one priority.
Beyond the contingent model, businesses should seek out firms that want to build long-term relationships and have industry-specific expertise. This will result in the best possible candidates for your business and long-term success.
If you’re in or near the Detroit area and need help finding top employees, contact us today.