How Much Do Vancouver Recruiters Charge for Their Services?
The first question we receive from our clients is How Much Do Vancouver Recruiters Charge for Their Services. It can be steep to be quite honest. One of the reasons some businesses do not use Recruiters is because of the seemingly exorbitant cost involved in using their services. This post aims to clarify this matter. Hopefully we can give ample rationale as to why Vancouver Recruiters charge what they do.
What You Pay For
- The basis of the fee is usually a percentage of the annual salary of the hired candidate. This ranges between 15% and 25%. The harder the search the higher the percentage. The recruitment cost is determined during the initial discussion when the hiring manager explains the mandate to the recruitment consultant. They usually discuss their ideals, must-haves, preferred or nice-to-have requirements during this meeting. It is also during this time when the actual search fee (%) is finalized.
- This agency fee is usually contingent upon a company hiring a candidate presented to them by the recruiter. If they do not hire, there is no fee owing to the recruitment agency. This explains why the fee is a little on the high end. Recruitment agencies take on a lot of the risk in this engagement (man hours spent researching the industry, sourcing the candidates, advertisements, job postings, etc.). They essentially end up work for free in the event that nobody among the candidates submitted gets hired.
- The fee usually comes with a replacement guarantee. This ranges between 3 and 6 months for most recruitment agencies in Vancouver. This means that if the original candidate does not work out during the guarantee period, the hiring company is entitled to a replacement candidate at no additional recruitment cost. This aspect of the fee structure provides the hiring company some peace of mind. It also gives them some flexibility in case the initial hiring decision was not the best one.
Let’s Do the Math
Let’s look at this example. For a $100k job, the fee for a Vancouver recruitment agency can be as low as $15,000 or as high as $25,000. Is it worth it? The recruitment industry is not going anywhere. Despite the surge of online resources, and the answer is still yes! But only if you use the right partner! The Right Hire Can Turn Your Company Around! Make the smart choice. Ask for referrals. Check for Vancouver Recruiters on Linkedin with good recommendations. Those are real testimonials. They can definitely be relied upon as a basis for choosing the Right Recruitment Partner.
For further questions about recruitment fees, please call us at iLink Global Recruiting Inc. – 1.778.9186573 or email .