In-House Hiring and financial recruitment agencies are just like fraternal twins. They may look similar but can be of different gender. Here, you can say these two types of recruitment processes are similar in some ways but different in others.
Your mind can make multiple thoughts like – how these two hiring are different. And how they are similar? What if the recruitment agency charge too much? What if I got an unqualified candidate? Stop right there! And take a deep breath…
We’ll help you out of your misery and make you understand these differences and similarities and of course, we’ll know which one is right for your business. For this, will go only with financial hiring in both ways. So, without further adieu let’s get started.
The end goal of both these hiring is to find the perfect match for the financial position and get them hired. Yes, that’s it! That’s their prime motto. Either they are in-house or the financial recruiter.
They both follow some kind of strategy for hiring. It may include:- talent classification, some specific questions, or something else. While mapping strategies their methods can vary. But again, their end goal is the same.
Well, we know one thing for sure. Experience does matter. Both of the hires take a closer look at the candidate’s experience, they make sure that the person surpasses the required experience.
Both processes the required financial industry standards and rules. Following these rules is important to reduce or avoid any kind of risk and help the candidate secure the job.
In-House Hiring- The sole focus of this process is the company’s culture, values, and goals.
Financial Recruitment Agencies- Their focus states their motive to get efficient and effective talent for the financial role.
In-House Hiring- They have a good connection with the financial department, so they will likely find someone with the exact quality the team needs.
Financial Recruitment Agencies- they have their own financial experts/professionals. So, we can say they are more likely to get you a highly experienced one.
In-House Hiring- Here, the hiring is happening within the organization/company so, there is no excessive cost. If there is any, then the cost can be manageable and can even be reduced.
Financial Recruitment Agencies- These financial recruiters charge a specific amount/fee or a percentage of a candidate’s salary. So we can say it is a bit costly.
In-House Hiring- They have a narrow network connection and an even narrower reach. They only manage to find talent through their previous database.
Financial Recruitment Agencies- They have a huge database and a vast network connection of different industries including the financial one.
In-House Hiring- This process takes a bit longer time, as they look for someone who is a good fit in all ways like the company’s culture, code, and conduct.
Financial Recruitment Agencies- Their hiring speed is what makes them specialized in their work. Whatever the time you want the candidate they’ll deliver you the candidates right on time.
Well, it depends on your need, if you need to fill the financial post very quickly then the financial recruiting agency is good for you. But if you want someone who can seamlessly fit in your office culture and adapt to the work quickly.
Suggestion From Infinity Exist- It is suggested that small businesses who need a few hiring should go with In-House Hiring. Because financial recruitment agency changes some fees. And for a startup business paying fees even before having a decent profit doesn’t make sense.
However, medium-sized and large businesses can and should go for recruiting agencies. So, they can hand over the hiring process to the agency and use that time for productivity.