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Getting the right talent on board can be a challenge for businesses today, thanks to the skills gap prevalent in several industries and the pivotal shift in the recruitment landscape. Instead of handling the entire process of recruitment in-house, a growing number of businesses are relying on the strategic outsourcing of specific hiring processes to external service providers with specialised expertise and competence in handling advanced technologies.
Whether your talent acquisition approach involves partnering with RaaS (Recruitment as a Service) providers or relying on the good old traditional recruitment agencies, it pays to compare the two to decide which one is better suited for your business.
Not sure about it? We bring you a brief comparison of the key features of both to help you in your decision-making process.
RaaS vs. Traditional Recruitment – Key Features to Consider
1. Hiring Volume & Requirements
If your hiring needs are large and can change frequently, your business will need a scalable and flexible hiring solution that can meet your changing needs. That’s where a RaaS provider can help, irrespective of whether you want to hire for a C-level position or multiple candidates across locations or departments.
Traditional recruitment is ideal when you are looking to meet short-term hiring needs. A traditional recruitment agency is typically focused on matching candidates with job opportunities, primarily based on experience and qualifications. The hiring process is generally reactive and limited to the pool of available candidates in the network of the agency you hire. The agency will charge a fee that’s often dependent on a candidate’s successful placement.
Typically hired to meet long-term staffing needs, RaaS providers work with a proactive, results-oriented approach. By using modern technology, and diverse sources to find both active and passive candidates, and leveraging their professional networks, they let you benefit from a wider and more diverse talent pool than conventional recruiting, which typically depends just on established networks and referrals. You can also use RaaS to meet your seasonal, temporary, or short-term staffing needs.
While traditional recruitment is more transactional, RaaS is more comprehensive, strategic, scalable, and flexible. As a result, what it will cost you will be decided by several factors. Usually, RaaS has a flexible pricing model, where your business will pay just for the services it needs, unlike the fixed, commission-based traditional recruitment pricing model.
2. Budget
Whether your business is growing or downsizing, RaaS can adapt to your changing hiring needs quickly and help in faster and more effective talent acquisition than traditional recruiting methods. Due to its flexible pricing model, you don’t have to worry about paying for services that you won’t end up using, unlike traditional recruiting services that require you to pay a certain percentage of a candidate’s salary, whom the agency has helped recruit.
If you have a stringent budget and you are especially looking to hire for C-level positions, relying on a RaaS provider will be a more prudent bet. Apart from benefiting from a flexible pricing model, you can also improve the chances of hiring a candidate who’s a better fit in terms of the vacant position and the company culture.
Since RaaS providers focus on customisation to meet the specific hiring needs of your business, from the skill sets required to the particular hiring process and workflows used, they have a better chance of finding you the right fit without charging a lot, especially for hard-to-fill positions. Their use of advanced sourcing, screening, and interviewing tools, while keeping your business culture and strategic goals in mind, are other reasons why businesses rely on them to overcome their talent acquisition challenges at cost-effective prices.
3. In-house Recruitment Expertise
With a seasoned in-house HR team, your hiring needs can be handled by your people for some time, before they become too big, too complex, or both to be met on time. Even when you have an HR, outsourcing your recruitment will free up your in-house personnel to focus more on core business functions.
Expertise with modern technology like AI and data analysis to source and screen candidates, analyse resumes and job applications, and conduct pre-employment assessments are other areas your HR team should be adept in. However, avoiding recruitment bias to ensure too much reliance on technology doesn’t hit your business’s DE&I initiatives adversely is equally crucial.
Expertise in using various sources to widen the talent pool and creating attractive job descriptions are equally important for the HR team. Your recruiters should also focus on delivering a positive experience for candidates (even those who don’t end up ino the final stages of the interview or being hired) to build a positive employer brand.
If your HR team lacks the above skills, it’s best to consider hiring experts. Whether you should go for RaaS or traditional recruitment should be decided by your hiring needs, budget, and other vital considerations.
Final Words
When the choice is between RaaS and traditional recruitment models to meet your business’s hiring needs, you should consider your hiring volume and specific needs, budget, and in-house recruitment expertise to decide.
To meet your local and international hiring needs, you can always rely on us at InHunt World!
This article was written by InHunt World