Recruitment consultancies, agencies or intermediaries are witnessing a boom in the demand of their services, both by the employers and the job seekers. With an already saturated job market, the recruitment intermediaries have gained a vital position acting as a link between the job seekers and the employers.
But at the same time, one of the major threats faced by this industry is the growing popularity of e-recruitment. With the changing demand, technologies and the penetration and increasing use of internet, the recruitment consultancies or the intermediaries are facing tough competition. To retain and maintain their position in the recruitment market, the recruitment intermediaries or consultants (as they are commonly known) are witnessing and incorporating various changes in terms of their role, functions and the services.
According to a survey amongst top employers, most of them agree with the growing influence of technology and the Internet on the recruitment processes. 70 per cent of employers reported the use of application portal on their company’s official website. Apart from that, the emerging popularity of the job portals is also growing.
But the fact that the intermediaries or the consultants are able to provide their expert services, economies of scale, up to 40 percent savings in the recruitment costs, knowledge of the market, the candidates, understanding of the requirements, and most importantly, the assess to the suitable and talented candidates and the structured recruitment processes. The recruitment intermediaries save the organisations from the tedious of weeding out unsuitable resumes, co-coordinating interviews, posting vacancies etc. give them an edge over the other sources of recruitment.
To retain their position as the service providers in the recruitment market, the recruitment intermediaries are providing vale added services to the organisations. They are incorporating the use of internet and job portals, making their services more efficient. Despite of the growing use of the internet, the recruitment intermediaries are predicted to continue dominating the recruitment market in the anticipated future.