Contingency recruiting basically is a type of hiring process where an external company will screen and evaluate candidates. This can be offered for a small proprietor or it can be used by a large corporate concern that has a large quantity of staff looking to hire a suitable individual. Unlike normal recruitment agencies are paid a specific fee for their services rendered, these skilled recruiters only get paid if they are able to find a suitable applicant that is hired by the client.
These agencies do all the personality assessments, background checks and also verify that the candidates have in fact got the education levels and expertise needed to do the job, previous employer records will also be confirmed. Some agencies will also do drug screenings, lie detector exams and numerous other personality quality testing so as to locate the best individual for each corporation. This specific hiring will most definitely suit a company that is looking for higher executive candidates who must have a certain amount of knowledge.
Individual people searching for any kind of job will benefit by registering with one of these recruitment companies as no charges will be metered out against them. The would-be employers however pay the recruiters directly only once they have agreed to hire the proposed candidate put forward by the agency. More often than not the fees are discussed before the candidate is sought out and is normally on a contractual basis per job.
Rates charged tend to be a little higher than normal as costs are worked out per individual case. Therefore it could be rather costly for businesses searching to hire a group of new employees, but is perfect for those who are on the search for specifically trained individuals. This depends on the posts that need to be filled by the hiring agents.
Amounts charged will range between 30% and 15 % of the first yearly net salary. This will mean that if for example it amounts to $100 000 pa that the fee paid would be $30 000. These somewhat higher prices can be justified due to the fact that the recruiters take all the risk and carry the costs till the candidate is hired.
Agencies will usually keep a complete database of all registered jobseekers. This also means that they are able to fulfill any client requests much faster. Keeping candidates on book will mean that money spent to do all the checks will not be in vain if another position is found for the applicant.
Any person that is actively looking to be employed can register with one of these recruitment agencies. A lot of job seekers actually prefer using this kind of recruiter as they feel that employment will be obtained quicker. The thought behind this is that they are motivated to place candidates in order to make any money.
Contingency recruiting is fully competent in servicing each spectrum of the career market. Clients do not need to spend lengthy hours interviewing numerous applicants; this is all done by the agencies. Although most people deem these services as expensive, the truth is that they can save a lot of time and money.
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