Why employ the Fractional Recruiting model for your business?
Finding an executive or hiring someone to search an executive has become too costly. With the changing economy, it is becoming hard to manage these funds in the budget.
What happens is you hire a full-time HR and overload him with other administrative tasks like compliance, benefits or something related to employees issues that they actually end up spending all the time in these tasks.
He gets no time to focus on his main purpose of talent finding and reach his goals. Fractional recruiting is an efficient solution to this problem.
It’s great for the following reasons:
- It attracts millenials (a key worker segment in 2019 and beyond).
- It’s great for startups.
- For technical founders, it’s a great way to hire a CEO.
- It attracts other talented executives.
This innovative solution helps you to challenge the issue of hiring in a cost-effective manner. The system is designed is such a way that it addresses the failures, contingent and retained searches fail to understand.
The hiring process actually slows down once you are done downsizing your team. Fractional recruiting means dropping your experts for a fraction of cost and reducing the size of your human resources capital.
There are many firms that offer fractional recruiting services on contract basis. They have a team of experts to establish the interview processes and their trained hiring executives are well aware of the interviewing skills required for recruiting.
The team of professionals makes sure to create a positive candidate experience that must reflect your brand reputation accurately.
Let me take an example to make the point more clear.
The literal meaning of fractional is “the separation of components of a mixture on the basis of their different physical properties.” Human resources is kind of same thing.
It revolves around different components like HR infrastructure, effective recruiting, performance of people and strategy alignment. The real world of recruiting can extract some major benefits from the concept of fractional HR. These examples will help you to understand the process easily.
First of all, let’s talk about start-ups.
Once a company starts proceeding, it needs immense human capital to establish core values. They need a company book based on their policies and procedures to run their business smoothly.
The process is big initially but once the things are up and start running smoothly the full-time support loses its place. The need of the full-time support transforms into the occasional need required at some key initiatives only.
I have another example. When a local business looks for effective recruitment, it needs to hire at least two persons to stay on the top of HR compliance issues.
It needs two distinctive skills which are not commonly found in a single person and hiring two distinct skill sets that is two different persons for this job is impossible.
No small scale business can extend their budget up to this level.
There are many family-owned businesses that are running out of family and doing absolutely fine.
In such cases, they always need to develop an employee relation strategy in accordance with their business heritage and that can grow with the market initiatives.
Did you find something common in all these examples? All these cases, do not require any full-term, expensive, Human resource solution for their business. Fractional recruiting is an ideal choice for such cases.
It provides a cost-efficient HR solution that is both deep and broad.
You can hire a team of HR professionals to manage the relationships between you and your employers. These HR professionals directly work with your leaders and connect with their colleagues proactively.
They have a great hold on the blended approach, just perfect in place and time.
In the recent times, fractional recruiters have emerged as the latest recruitment solution.
You have regular recruitment needs but not enough budget to hire a full-time recruiting resource, Fractional recruiters fill in the seat and help you get the right people in the right time.
Benefits of Fractional recruiting: Fractional recruitment is emerging as a business and it has multiple benefits.
- It actually helps you to improve the quality of your candidate pipeline.
- Your hiring process establishes as a consistent and EEOC compliant process.
- You end up saving time you used to consume in the process of recruitment.
- It enhances your candidate experience and you measure better results.
- The process helps you make better hiring decisions.
To better understand if fractional recruiting makes sense for your business, contact us for a complementary consultation of your HR needs.
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