Introduction
The recruitment landscape has evolved significantly over the past few years, with companies continually seeking innovative, cost-effective ways to attract top talent. One such innovation that has gained significant traction is flat fee recruitment. This blog post aims to demystify the concept of flat fee recruitment, its benefits, and why it might be the right choice for your business.
What is Flat Fee Recruitment?
Flat fee recruitment, also known as fixed fee recruitment, is a hiring model where you, the employer, pay a set price for a recruitment agency’s services. This is regardless of the number of hires made from one recruitment process. Unlike traditional recruitment models that charge a percentage of the candidate’s first-year salary as a commission, flat-fee recruiters often offer their services for an upfront fixed cost.
This model provides businesses with an opportunity to access multiple job boards, databases and social media platforms at once without incurring additional costs per hire. The flat fee typically covers services such as job advertising, candidate screening and shortlisting, interview scheduling and applicant tracking.
Benefits of Flat Fee Recruitment
Cost-Effective Hiring Solution
One of the main advantages of flat fee recruitment is its cost-effectiveness. Traditional recruiting methods can be expensive due to high commission rates based on successful placements. With flat fee recruitment, businesses know exactly what they will pay from the onset – no hidden costs or surprises.
This model allows companies to budget effectively for their hiring needs and can result in substantial savings, especially when hiring for multiple positions or conducting mass recruitments.
Access to Multiple Job Boards
Flat-fee recruiters often have access to numerous job boards and platforms. They can advertise your vacancies across these platforms simultaneously without additional charges. This broad reach increases your chances of finding suitable candidates faster than if you were using only one job board or relying solely on your company website.
Time-Saving
The process of sifting through hundreds or even thousands of resumes can be time-consuming for businesses. Flat-fee recruitment agencies take this burden off your shoulders by handling the initial stages of the recruitment process. They screen and shortlist candidates based on your specifications, leaving you with a manageable number of potential hires to interview.
Transparency
With flat fee recruitment, you know exactly what services you’re paying for upfront. This transparency builds trust between businesses and recruitment agencies, as there are no hidden costs or unexpected fees.
Is Flat Fee Recruitment Right for Your Business?
Flat fee recruitment is an excellent choice if you’re looking to save on hiring costs without compromising on the quality of candidates. It’s particularly beneficial for small to medium-sized enterprises (SMEs) that may not have a dedicated HR department or large corporations looking to streamline their hiring process.
However, like any business decision, it’s important to consider your specific needs and circumstances before choosing a flat fee recruitment agency. Ensure they can provide the services you need and have a proven track record in your industry.
There are two types of flat fee recruitment
Yes, just to add to the mix, if you Google flat fee recruitment, you’ll come up with tonnes of low cost recruitment providers who do one thing and then a handful of others who offer more of a full service for a flat fee. And then there is a third flat fee recruiter based in Bristol… hint: you’re reading their website right now!
Flat fee recruitment – sourcing applicants for your vacancy
You’ll see companies like Flat Rate Recruiter who offer both the first and second of these flat fee recruitment options.
You pay anywhere from£199 to £699+tax for the company to take your ad, advertise it across the web, and you access your applicants via a portal they provide you with. You can review all applicants and respond to them easily from within the portal. Arrange interviews, call them, and hire anyone from that pool. Sometimes, you can even hire multiple people from the same campaign.
Flat fee recruitment – full service
This service is more of a ‘recruitment’ service where they do the screening, which is the initial CV sift. They’ll select who to call for an interview and then hand you a long or shortlist. This is a super useful service as it’s cost-effective and you can rely on recruitment experts to sift through your candidates. Saving time as a business owner is vital!
Flat fee recruiter – full service + onboarding + 6 month guarantee
This is the service we provide for our clients where at Your People Partners.
Our flat fee is £4000 + tax and offers a full wraparound service which I’ll detail below.
Our normal recruitment fee is 20% of the person’s starting salary and comes with a 12-month guarantee. However, for those wanting a less-costly service yet still be supported before, during and after the hiring process, we have our Low Cost flat-fee recruitment service.
Perhaps you have lots of experience selecting candidates from CV applications, interviewing them, assessing their skills, understanding your culture fit, have your HR documents already ready to go and can do your onboarding confidently and seamlessly, then this low-cost fixed-fee recruitment option is good for you.
Your flat fee recruitment service is:
£4000 (+tax) split over three monthly invoices
- Invoice 1: upon engagement i.e. before we kick off your hiring
- Invoice 2: when you receive your candidate shortlist
- Invoice 3: the first week your candidate starts
- You can pay in two invoices and the fee is discounted to £3800*
Micro-companies of 10 employees or fewer qualify for a bursary on this Low-Cost Flat-Fee Recruitment service.
We will provide an industry-leading Guarantee for our Low-Cost Flat-Fee Recruitment service. We give you a full replacement at no cost to you. This is if they do not pass your probation period of up to six months. We know this is industry-leading as most flat fee recruiters offer zero guarantee or up to a 60-day guarantee as a maximum.
Conclusion
In an increasingly competitive job market, finding the right talent can be challenging and expensive. Flat fee recruitment offers a cost-effective solution that allows businesses to reach a wider pool of candidates while saving time and resources.
By understanding what flat fee recruitment is and its benefits, businesses can make informed decisions about their hiring strategies. As with any service, it’s crucial to do your research and choose a reputable agency that aligns with your business needs and values.
In conclusion, flat fee recruitment is changing the game in talent acquisition by providing affordable, transparent, and efficient hiring solutions. It’s certainly worth considering if you’re looking for ways to optimize your recruitment process.
Have a chat with Helen Sanders, the MD here at Your People Partner and the UK’s leading small business recruiter. Schedule your call here, and we could get your Low Cost Flat Fee Recruitment campaign kickstarted ASAP.
