Winning new business is the key challenge facing 93% of recruiters, according to a study conducted by iContract. We also found that recruiters spend between two and four hours each day searching for appropriate candidates; nine out of ten (90%) of recruiters surveyed cited candidate search as their second biggest challenge.
We quizzed nearly 50 recruiters, predominantly from London’s Financial Services sector, to get a sense of what they report as their key day-to-day challenges.
The good news is that more than 90% of those questioned reported an increase in demand for contractors by between 26-50% in the last 12 months, with only a small number reporting either no increase or a dip in demand. Contracting roles make up between 10-20% of recruiter firm activities for 93% of those questioned.
When it comes to turnaround time, in 90% of cases clients give recruiters up to two weeks to source appropriate candidates, with the remaining 10% giving just up to five days’ notice.
Currently, the most popular candidate-sourcing tools are LinkedIn Recruiter or LinkedIn Talent Solution, Citijobs and Monster. Recruiters will typically use between four to six different online tools to research candidates.
iContract’s commercial director Eduardo Rastelli believes the short turnaround time given by clients coupled with the static candidate database in-house and through job boards makes the current process lengthy and time consuming. iContract’s smart search engine can help recruiters to find the contractors with the right skills at the right time, and communicate with them directly.
“Recruiters are under pressure to deliver high calibre candidates, but the existing tools do not enable them to source and qualify them quickly, neither do they give details of their availability or notice period,” he said. “iContract comes with simple search options, enabling recruiters to source candidate according to day rate, availability, location and other options. Furthermore, a match score will be displayed against each candidate to indicate their suitability to the job. This will cut down search and call times for recruiters significantly.”
Our study also found that nine in every ten (90%) of recruiters speak to between 21-30 candidates every day, making it difficult to keep track of the people they talk to.
“Using iContract to improve the quality of candidate assessment in the first instance will also reduce the need to call so many contractors, often on the off-chance that they may be suitable, available and interested,” Rastelli concluded.
iContract goes live soon and we’re looking to improve the way recruiters and contractors work together, so pre-register now.