Companies today are under more pressure than ever to make sure they are attracting the best talent possible to get work done.
And although focus and attention on permanent hiring is being matched in many companies by contingent hiring, aimed at specific tasks and projects, the former remains a very prevalent element of any company's recruitment strategy. In fact, the two can often work together in order to minimize one of recruitment's biggest problems.
When it comes to FTE candidates, in any requisition there will be people who are hired and people who are not. However, just because someone has not been made a job offer, it doesn't mean they are never going to be the right candidate. There is a risk that when someone marginally misses out, they are lost to that company forever, despite having the right skills.
There are candidates that no company wants to lose, and according to Career Builder, many don't. As many as 54 percent of employers try to re-engage former candidates again in the future. It's here that contingent hiring through an effective managed services provider (MSP) can prove invaluable.
Although there may not be a permanent role for someone who has been interviewed, if they have successfully passed the screening stage, it can be a good idea to offer them the opportunity of a contingent role.
We take a look at the top reasons transitioning FTE candidates into contingent roles can be a priceless move for organizations to undertake:
Not losing skills: No hiring manager wants to see skilled people walk away. According to ERE, as many as 50 percent of applicants do not meet the basic requirements for roles they apply for. So when someone does, the hiring manager will be reluctant to lose them entirely. Leveraging these candidates in contingent roles means utilizing skilled individuals who would otherwise be lost entirely to the organization and getting the most out of their skills.
Keeping future hires engaged: Whether a hiring manager sees someone as perfect for a role that will be opening soon, or simply wants to know they'll be available if and when a permanent position does open, having FTE candidates engaged with the company in some capacity will keep them connected and more likely to be available for future positions.
Collaborating with permanent hiring to build a talent pool: In permanent hiring, a talent pool and pipeline is vital for guaranteeing suppliers have access to pre-screened and skilled candidates at all times. An MSP can assist with this by ensuring that FTE candidates gain experience within organizations on a temporary basis.
A new avenue for sourcing contingent hires: FTE candidates are not typically seen as the type of people on the lookout for contingent roles, so they can be easily overlooked. However, by considering FTE candidates who have failed to secure a job offer, MSPs can tap into new markets for talent, perhaps finding the right fit outside of the usual channels.
The majority of people who apply for any permanent role in a company will be unsuccessful, with reports estimating that over 200 people can apply for the most popular positions. For most of these unsuccessful FTE candidates, it's a case of going back on the job hunt.
However, for those candidates who have the right skills and are a good fit for the company, but who marginally missed out on an offer, contingent roles could be the future. Leveraging FTE candidates in contingent hiring is a smart way to ensure that those who may prove a smart hire in the future remain engaged and involved with the company right now.
To find out more about the role of contingent hiring in recruitment, visit our website for information.