Finding the right talent for critical roles can be extremely difficult. Conducting a job search (and identifying candidates that fit the needed qualifications) typically requires in-depth knowledge of the job market, awareness of current hiring trends, and experience developing effective strategies that actually result in applications.
Needless to say, most HR departments are simply not equipped to locate talent for high-demand roles. The average time to fill a vacancy without recruitment advertising agencies is 42 days. HR managers are often limited by the amount of resources they can allocate to candidate generation. They struggle with prioritizing recruitment with the slew of other duties assigned to their role. Luckily, that’s where recruitment advertising agencies come in.
The Value of Recruitment Advertising Agencies
Recruitment advertising agencies improve candidate quality, are more cost-effective, and increase employee retention rates. Indeed, turnover remains one of the highest expenses for businesses with some reports placing revenue loss as high as $75,000 per month.
Knowing how to identify the right recruitment advertising agency for your needs, though, can feel a bit like finding a needle within a haystack of options. Here are 3 questions to ask when evaluating agencies and selecting the best match for your goals.
What industry(s) does the recruitment advertising agency specialize in? Not all recruitment advertising agencies have experience in your field. Look for organizations that have a proven track record within your specific industry and with the kind of jobs you need filled. For example, an agency’s website is an excellent place to learn what it specializes in. Landing pages, blog posts, case studies, and white papers are reliable “tells” of whether a particular agency might be an ideal overall fit.
Another option is to ask the agency for specific examples of the kind of marketing materials it typically creates. Many organizations will have sample designs and advertisement placements to show potential clients. This request can also ensure that the agency excels in the marketing channels you think are most effective for your target audience. It does you no good to promote open positions on LinkedIn when your candidate demographic prefers Facebook.
How is success measured? Before entering into any contracts, have an open discussion with the recruitment advertising agency to determine how it measures success. Key performance indicators (KPIs) differ by industry and position, so it’s critical to align them appropriately. Some key metrics to remember include:
- Time to Fill. This metric measures the time it takes from posting a job opening to a candidate accepting an offer. Generally, you will be looking for recruitment advertising agencies that can contact, vet, and select candidates quicker than an in-house team could.
- Cost per Hire. This value looks at the total cost involved in hiring a new employee. It includes everything that goes into the recruitment process, including advertising spend, administrative costs, and technology expense (for example, if specific recruitment software is used).
- Candidate Satisfaction. Conducting a survey of successfully hired candidates can give you a good indication of whether the overall recruitment experience is a positive one. Similarly, requesting an agency to survey all generated candidates — whether they’re hired or not — can offer insight into procedural pain points and opportunities for improvement.
- Employee Retention Rate. This number looks at the recruitment process from a more holistic standpoint. It specifically determines the percentage of new hires who remain with the company for a specified period of time (typically 12 months). A high retention rate indicates that the recruitment advertising agency is skilled at finding qualified candidates that are also a good fit for a company’s workplace culture.
Identifying metrics and benchmarks that adequately reflect your needs can help you pinpoint agencies that meet them. It also helps you keep third-party agencies accountable as the relationship develops over time.
What advertising strategies do you use to keep potential candidates engaged?
Knowing how a recruitment advertising agency approaches its marketing strategy is an easy way to tell if it is the right fit for your business. The ways in which an agency uses innovative tools and methods to attract high-quality talent can be a huge determining factor in whether your company stands out to candidates.
One factor in making this determination should be the agency’s technology use. Does the agency have experience posting on digital job boards, creating engaging social media posts, and editing videos? Also, identifying whether the recruitment advertising agency takes the same cookie-cutter approach to all its clients can be a major red flag. Tailoring marketing to the specific role in question allows agencies to meet individual candidates where they are and takes into account career stages, skill sets, and workplace preferences.
Finally, the overall candidate experience should reflect your company’s values and culture as well as offer a realistic view of job duties. Marketing strategies that blur these factors should be avoided. It’s not enough just to generate candidates; recruitment advertising agencies also need to attract quality talent that sticks around once an offer is extended.
Consider ProIQ For Your Recruitment Advertising Agency Needs
ProIQ has decades of experience in marketing, sales, data analytics, corporate strategy, and talent acquisition. As a recruitment advertising agency, we regularly develop unique digital solutions that speak directly to target audiences. Schedule a consultation with us today to learn more about our approach and how we can help your business grow.