There are many recruitment solutions and each of them have advantages and disadvantages. In this blog post I am going to give you the lowdown on the pros and cons of Flat Fee Recruitment.
What is it?
I’m not going to go into depth about what Flat Fee Recruitment actually is, as I’ve already written an entire post about it.
The long and the short of it is that it is the fusion of Job Board Advertising and Recruitment Agencies. Your advert is optimised and posted onto multiple job boards, as well as the applications being screened and candidates being resourced – all for one flat fee.
An obvious benefit of this service is that it is way cheaper to fill your vacancy than using a Recruitment Agency. This is because Agencies tend to charge commission fees (around 15%), and this can become pretty pricey, especially when hiring multiple candidates. On the other hand, with Flat Fee Recruitment you can hire one candidate or fifty, and you only have to pay one price.
Unlike Job Board Advertising, when your applications come in they are screened and ranked in order of relevance. This means that you don’t have to spend hours going through irrelevant apps, as the Flat Fee Recruiter will do this for you.
Another advantage is that your advert will be posted branded, which has lots of benefits. Branded advertising brings in much better brand exposure, and attracts more and better candidates – meaning that you will have a lower dropout rate when it comes to the interview stage. Job boards such as Monster highly recommend posting branded adverts, stating that “Premium templates result in more applications for the client”.
One drawback when using Flat Fee Recruitment is that for very specialist roles, it can be harder to fill without the help of a Recruitment Consultant (at an Agency) who knows exactly what kind of candidate your role needs.
Also, a drawback of the branded advertising you receive is that your competitors will see exactly what you’re hiring for and the salary you are willing to pay for the position. This means that they can (and probably will) compete with you, in order to gain the best candidates for themselves.
I hope that this blog has helped you to gain a better understanding of the pros and cons of Flat Fee Recruitment, and has potentially given you an idea of whether this service would be right for your recruitment needs. If not, we are now offering a free recruitment consultation to give you an idea of which recruitment solution is right for you!