The Benefits of Full Life Cycle Recruiting for Small Business

Jan 02, 2018
| Extensis Recruiting Team
Benefits of Full Life Cycle Recruiting for Small Businesses

Recruiting is a difficult task for smaller businesses, especially when competing with larger companies for the same talent pool. That’s why talent acquisition today is really a science and an art. Small businesses must think outside the box in order to effectively compete for top recruits.

Many small businesses today outsource parts of their recruiting process to help attract and hire the best talent. While outsourcing can be a great solution, it can sometimes cause issues when not properly executed. This is especially true if you are outsourcing various parts of the recruiting process to different vendors or individuals. Instead, small business leaders and HR managers should focus on full life cycle recruiting.

Full life cycle recruiting, also known as full cycle recruiting, is when the entire recruiting process – from creating job descriptions and sourcing candidates, to assisting with onboarding – is conducted by one person or vendor. Considering a move to this recruiting model can prove to be extremely valuable to small business leaders. That’s because this approach to talent acquisition has numerous benefits and advantages for small businesses.
 

1) Increased Accountability Around Recruiting

The recruiting cycle is a long and multi-tiered process. This can often-times cause confusion when various parts of the recruiting and hiring process are handled by different people. Even larger organizations, who do almost all their recruiting in-house, can run into issues because so many people are involved with hiring a position.

Small business can benefit from full life cycle recruiting because it puts one person or vendor in charge of the entire process. This eliminates the confusion over who owns which part of the process, as well as the need to wait for others to move forward with a position. Not to mention that it also allows for a clear strategy from start to finish.
 

2) A Streamlined Hiring Process

Another benefit to a full cycle recruiting model is that it allows for a more streamlined strategy. A recruiter is able to have a much greater sense of control throughout the entire process. In this model recruiters are better set up for recruiting success, as they are in charge and hands-on in each step of the recruiting and hiring cycle.

Full life cycle recruiting also means that a recruiter is able to move at his or her own pace with each role they are filling. When a recruiter is given more flexibility with each role they are trying to fill it increases the likelihood of faster and more qualified hires. (more on that shortly).
 

3) Improved Candidate Experience

For recruiters at any sized company, improving candidate experience should be a top priority. Not only does it make recruiting easier and improve employer branding, but providing a great candidate experience can lead to future business growth and success.

Full cycle recruiting gives the job seeker a single point of contact throughout the recruiting and hiring process. Communication is often cited as one of the major detractors of candidate experience, with many candidates falling into the recruiting “black hole” and never hearing from their recruiter. By moving to a full life cycle model, small businesses can help eliminate this major recruiting issue and significantly improve their candidate experience.
 

4) Decrease Time-To-Fill

The previous three benefits of full life cycle recruiting lead to better recruiting results. One of those outcomes is a decrease in time-to-fill. It can cost a company as much as $23,000 per unfilled position, so decreasing time-to-fill is a must, especially for small businesses.

Full cycle recruiting allows for increased visibility of job postings, which leads to more applicants. In addition, compelling job ads coupled with creative and specific job descriptions help organizations get candidates who are qualified for the position. These help to decrease time-to-fill, and save small businesses a considerable amount of money!
 

5) Increase Quality-of-Hire

Time-to-fill is a popular recruiting metric (for good reasons), but quality-of-hire is often cited as the most important. Finding qualified candidates for positions is one of the biggest challenges recruiting teams face. Small businesses face even steeper challenges in finding the perfect candidate for an open requisition.

However, with one person overseeing the entire process from start to finish, full cycle recruiting allows for a more personalized and thorough process that helps to land qualified candidates. As quality of hire increases, so too does business growth and success.
 

6) Achieve Greater Recruiting and Business Results

Full life cycle recruiting is a great approach for small businesses looking to revamp and improve their recruiting strategy. Improving candidate experience, decreasing time-to-fill, and increasing quality-of-hire all lead to successful recruitment efforts.

As talent acquisition becomes more successful and powerful, small companies are better set-up to compete with larger organization for top talent, as well as business!
 

Small Business Can Gain a Significant Advantage from Full Cycle Recruiting

Many small businesses look to outsourcing to help recruit talent. It can be a great business decision that leads to better recruiting results. However, not having a full life cycle recruiting strategy in place can make you miss out on the true potential of your hiring process. With the war for top talent back on like never before, having the best possible recruiting strategy and process is imperative. Keep this in mind as you assess your recruiting outsourcing options!

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