The hospitality industry is one of the most lucrative sectors globally. Considering the rampant pace at which the industry is growing, it is inevitable that the most successful operators’ implement strategic recruitment practices. This includes partnering with the most aligned hospitality recruitment agency or agencies for talent acquisition.
In line with conventional recruitment, some stakeholders are still of the opinion that in-house recruiters are a cost efficient solution. However, with industry dynamics changing rapidly in the hospitality sector specifically, many stakeholders consider a recruitment agency a commercially sound option.
While contemplating between hiring an in-house recruiter over a hospitality recruitment agency, here are a few aspects that you need to consider:
- How much did your recruiter spend on the last talent acquisition?
- The cost involved in housing a full-time Operations and Recruitment Manager
- The on-costs incurred during periods of not hiring
- The added value of having access to industry wide intelligence
- The revenues lost whilst waiting for the talent’s response
- The amount of hours spent by your HR professional in reviewing resumes and scheduling interviews
By adding all the costs involved within in-house recruitment, many businesses have observed a serious financial dent and poor business performance. If your efforts to find the right talent have resulted in nothing more than exhausted resources, then a partnership with the right external provider could well be the smart solution.
The right recruitment agency can expedite the recruitment process and deliver the desired talent for even the most complex roles. A recruitment agency’s services can actually cost less than in-house recruiters. This is true particularly when working in a close exclusive partnership, designed with the specific needs of the business in mind. Before you go on the next hiring spree, take the following considerations into account:
A Hospitality Recruitment Agency Has Valuable Expertise
A recruitment agency has direct experience, exposure, PR and contacts in the hospitality industry. They understand the hiring trends along with the best practices to lure top talent. They can also assist you in devising packages and compensation that appeals to your target talent. The PR and resourcefulness is what sets a hospitality recruitment agency apart from conventional recruiters.
Fast Paced Recruitment Process
In the hospitality sector, the competition is fierce. Therefore, finding the right talent with the desired skill set can take weeks or months. Almost 95% of recruitment personnel believe that hiring will be more competitive in 2017, as compared to the previous two years (Jobvite Recruiter Nation Report 2016).
Recruitment itself is a cumbersome process – posting job adverts, reviewing CVs, conducting interviews and processing the offer letters requires time. The interview process alone has increased from 3.3 days in 2009 to 3.7 days in 2017, as reported by Glassdoor.
An HR professional has many areas of focus that will further delay the recruitment process. A delayed process means the chances of your talent being poached by a competitor also increase. As per MRI Network, nearly 47% of candidates will reject your job offer because they have another opportunity to consider.
A hospitality recruitment agency will also maintain a database filled with professional profiles. An experienced and dedicated recruitment professional, facilitating a closely managed process, results in an efficient and streamlined hiring process.
Saves Cost and Time
Stakeholders in the hospitality sector cannot deny that recruitment is a draining process, requiring a steady stream of finances and time. According to a Recruiter & Employer Sentiment Survey from MRI Network last year, 56% of internal recruiters said that they are unable to make good hires due to an extensive procedure. In addition 52% of these internal recruiters fail to find talented candidates for the open positions in their companies.
Despite following the right recruitment practices, many times the results are futile. A quality hospitality recruitment agency can facilitate the process with often greater accountability for delivery. They therefore offer an opportunity to save resources, time and money. Generally a reputable recruitment agency will work closely with your HR professionals. they will inform them of all updates and will work within the pre-defined budget. This will also minimise the chances of rogue spending.