5 different types of recruitment firms that you should know

[Kaushal Kumar]

Although human resources departments and hiring managers play a role in recruitment, when a firm has a sudden employment requirement, current resources might not be sufficient. Recruiting firms enter the scene at this point. Companies who need to hire and grow their workforce but can't do it cost-effectively using internal resources or aren't willing to invest in recruitment technology or full-time recruitment personnel use a variety of recruiting agencies in India.
Retained recruitment firm, contingency search firm, staffing agency recruiter, RPO companies, Internal recruiter are the 5 different types of recruitment firms that provide recruitment services. Some recruiting firms, such as recruitment process outsourcing (RPO) execute recruitment in place of internal recruiters, while others, such as contingency search firms collaborate with current recruiters, HR personnel to meet their company’s recruitment demands.
Retained recruitment firm
Companies that need to fill senior-level roles hire retained recruitment agencies in India, sometimes known as executive search firms. The employer pays a portion of the cost to the recruiter up front, with the remainder due when a qualified applicant is hired. Retained recruiting agencies in India often start with a big list of possible applicants, including passive candidates (those who aren't actively seeking for work), and then cut it down to a good shortlist. The recruiting process for a CEO usually takes roughly 90 days, however it might take longer in rare cases.
A retained recruitment company has the benefit of being extremely driven to find you a good candidate. You may ensure the recruiter's time and attention by paying them the retainer fee. The Retained recruitment firms also have large networks of highly qualified applicants, which increases your chances of finding the perfect individual and lowers your risk of making a disastrous hiring. The disadvantage is, of course, that retained recruiting is costly. In most cases, the retainer charge is 30 to 35 percent of the compensation for the post involved.

Contingency search firm
When a company's in-house recruiting team can no longer handle the burden, they hire contingency search firms. If the company has multiple available positions or there is a significant increase in demand, the situation to hire a contingency search firm emerges. Contingency recruiters, unlike executive search agencies, work for numerous clients at the same time. They're more commonly employed to fill entry-level or non-specialized roles. Contingency search agencies use their networks to seek out possible applicants. They also post the position on different job sites and look for resumes in internet databases. You will receive candidate information from them. Your work entails reviewing applicants and setting up interviews.
Contingency recruiting services do not need an upfront fee and are only paid once the post has been filled. This payment might be a fixed fee or a percentage of the yearly compensation for the post filled by them. Contingency recruiting might be more cost-effective for easier-to-fill roles because you don't have to spend anything upfront.

Staffing Agency Recruiter
Recruiters from staffing agencies assist businesses in filling open positions with temporary workers. This form of hiring is common in businesses with seasonal industries like tourism, retail and short-term projects like in the construction industry. Your employees actually work for a staffing agency so you pay the agency an agreed-upon hourly rate. Before paying the employee, the agency takes a portion for their services provided and deducts the taxes, insurance, and any other perks. Before assigning personnel to fill your position, an agency representative will chat with you to establish your needs.
Using a Staffing Agency Recruiter is costly in the long run. It is, however, a quick and economical approach to fill short-term roles. A Staffing agency allows you to pay for additional employees just when you require it. Outsourcing the recruiting process, as well as the costs of taxes and benefits, saves your organisation time and money.

Recruitment Process Outsourcing (RPO) companies
External providers who take over all or part of a company's recruiting process are known as recruitment process outsourcing agencies. An RPO firm serves as a supplement to, or replacement for, an internal HR team. They oversee the whole recruiting process, from strategic planning through assessment and analytics, as well as sourcing individuals for specific roles.
RPO firms are very efficient since they have a large network and extensive industry knowledge. They can reduce hiring and retention expenses by shortening the recruitment process. By influencing the applicant experience, the proper RPO agency can help you build your company's reputation as a great employer. You'll pay an ongoing management charge to your RPO firm. You can engage an RPO firm on an as-needed basis to minimise the costs of getting trapped into a long-term contract. Using an on-demand RP company allows you to add or remove individual components of the service as needed, while still benefiting from their experienced knowledge.

Internal Recruiter
If your organisation undertakes a lot of hiring, it could be a good idea to have someone on staff who is solely responsible for this task. An internal recruiter is a paid person tasked with acquiring and recruiting the top people for their organisation. Writing job descriptions, publishing job advertising online, screening through resumes, and scheduling interviews are all part of the job. An interval recruiter is normally paid a salary and does not get a commission for making a recruitment.

There are several recruitment consultants in Mumbai. One of the best recruitment firms in Mumbai is New Horizon since they are the chosen partner of India's largest global corporations. They are one of the well-known recruitment companies in India, recruiting across many industry segments for some of the city's most prestigious companies. Their core team of industry specialists has an amazing track record of effectively addressing all of the hiring demands of various industries.