One of the most valuable resources available to your company is knowledge. But it has to be the right kind of knowledge. The value of knowledge goes beyond just knowing information. What makes knowledge so precious is the application. It is that ability to apply information that we commonly refer to as expertise.
The expertise of your recruiting firm is definitely a commodity that you want to tap into. What kind of expertise can you expect from your recruiting agency? Let’s look at three significant areas:
- Knowledge of legal requirements
- Experience in your industry
- Market intelligence
Knowledge of Legal Requirements
Your recruiting agency is expected to stay up-to-date on labour laws. If any workers are contracted directly through the agency you can have the confidence that all paperwork will be properly handled for you. If you make the decision to independently hire any staff, you can benefit from the recruiting firm’s ability to walk you through any legal requirements.
This type of legal expertise provided by your recruiting agency is truly invaluable. It can save costly fines and other legal ramifications if you are ever audited by the Ministry of Labour (MOL) or Canada Revenue Agency (CRA). Their expertise can also make sure that you are in full compliance with the Workplace Safety and Insurance Board (WSIB).
Experience in Your Industry
We already discussed that part of what makes knowledge so valuable is the application. With your recruiting agency, that application comes from their extensive experience within your industry.
Because your recruiting firm is an industry expert they understand the needs of your business. Since they understand your needs they know what skills to look for in potential applicants during the screening process. This will enable them to ask the right questions during interviews and reference checks. This understanding will help you find the right employees to fill your permanent staffing needs.
One important area of expertise that you do not want to take for granted is the market intelligence that is possessed by your recruiting firm. For example, your recruiting firm has access to essential insider info in the following areas:
- Competitive wages
- Availability of potential job candidates
- Understanding of developing trends within your industry
Tapping into market intelligence provided by your recruiting agency will help your company in the following ways:
- Develop an effective employee retention strategy
- Give you access to cross promotional opportunities
- The understanding of emerging trends will help with product and marketing development
Because of their understanding of legal requirements, industry experience, and access to market intelligence your recruiting partner truly is an expert in your industry. You would be wise to take advantage of that expertise. By doing so your company will be enriched by this precious commodity.