The Different Types of Recruitment Agencies
Aug 18, 2014
A recruitment agency helps you to find such positions according to your skills, interests and qualifications. The agency charges a fee to its client firm whenever an applicant is hired. Some recruitment agencies working on commission basis may also charge the applicant.
To all qualified candidates, it is important that you know the basics of each type of agency. Here are the different types of recruitment agencies:
Contingency-based Agencies: This type of agency work with client companies to find suitable applicants by matching a candidate's skills and qualifications with the company's requirements. Contigency-based agencies are usually popular for administrative works, the applicants serve a probationary period and the agency is only paid once the applicant successfully serves the probationary period. Some agencies charge a flat fee to the client company, while others ask for a percentage of applicant's first salary.
Niche Recruitment Agencies: Niche firms can very often produce superior results due to their ability to channel all of their resources into networking for a very specific skill set. The agency is responsible for hiring skilled applicants who are specialized in a certain discipline. They also develop knowledge on specific emploment trends within their industry of focus and are able to identify demographic shifts such as aging and its impact on the industry.
Retained Search Recruitment: A retained search agency is an employee screening process used by recruitment firms. It is designed to enable highly skilled professionals to find opportunities in the work environment. The agency also know as executive search firm, the fee that a client company pays to a retained search agency is non refundable and a part of it is paid in advance for doing a retained search in order to fill a position. Retained search is preferable in cases where a company has a pressing executive level need that requires an applicant who will hold key leadership responsibilities and whose services are integral to overall organizational success.
Temp/Staffing Agencies: It usually hires candidates to fill temporary positions in an organization. The client company pays an hourly rate for the applicant it hires. The agency will have to pay the employee's wages, benefits and many more.