Explaining the value of a recruitment marketplace in promoting efficient engagement of recruitment suppliers.
Background
Any company that wishes to hire a new employee, from outside, can either do the recruiting itself or outsource its recruitment function to third party recruitment firm/s.
And if a company elects to engage recruitment agencies, it now has TWO options, which was never the case before the advent of a recruitment marketplace concept. A hiring company can now work with recruitment agencies either:
- Directly – this is the traditional way of doing business with recruitment firms
- Or via a recruitment (or recruitment agency) marketplace or website
What Is An Online Recruitment Marketplace?
A recruitment marketplace is a website that operates as the trading place for hiring companies (Employers) and Recruitment Agencies. The role of the marketplace is to provide a better way for hiring companies to work with recruiting firms to fill vacancies.
Popular online or tech-based marketplaces include Airbnb, e-hailing (Uber, Bolt), SweepSouth and more. These marketplaces connect Buyers with Sellers/Suppliers and use technology to improve the way the two parties do business with one another.
Likewise, a recruitment marketplace – like Mema Referral – connects Employers to a network of Recruitment Agencies that are available on demand and helps both parties collaborate more efficiently and more effectively to fill open permanent job positions.
Eliminating Inefficiencies
A recruitment marketplace improves engagement of recruitment suppliers, inter alia, by eliminating inefficiencies. This begins having a clear understanding of the core and non-core functions of both an Employer (buyer) and a Recruiting Firm (supplier) in the recruitment process.
Core and Non-core Mandate
The main, if not the only, reason an Employer seeks out the services of a recruitment agency or search firm is to fill an open position. An Employer does not engage recruitment agency service in order to discuss terms of business, pricing, refunds etc.
Similarly, a recruitment agency owner does not start a recruitment business because they love discussing terms and conditions, SLAs, prices with clients or to prepare invoices or to market their business. All these functions are not essential to the recruitment process but exist as a by-product of being in the business of sourcing and supplying suitable job candidates to hiring companies.
The Role of a Marketplace
The marketplace (Mema Referral) takes over crucial non-recruitment or business tasks (i.e. standardised Terms and Conditions that protect all parties, billing, refunding, keeping record of recruitment transactions and business development on behalf of Recruiting Firms etc.) that support the recruitment process.
So, a recruitment marketplace, like MemaReferral.co.za, allows an Employer to focus its discussion with Recruitment Agencies on the recruitment service only (a recruitment brief, candidates, interviews etc.) – as it should be!
CONCLUSION:
The online recruitment marketplace allows Employers to work with recruitment firms more efficiently, more effectively, more professionally and more cost-effectively while helping Recruitment Agencies access new recruitment opportunities without any sales effort on their part and work much better (efficiently) with Employers.