Online recruitment specialist scoops top industry accolade
Online recruitment specialist, Recruitment Genius, has today (16 November 2010) been presented with the Best New Product Service Award by the Best Business Awards.
The Best Business Awards are open to organisations of all sizes and aim to highlight and reward excellence with entries judged by an independent panel of business experts and past winners. The Best New Product / Service category is not just about innovation but also looks at pricing, after-sales service, design and performance. Each submission is scored against specific category criteria with particular emphasis on success and innovation.
Recruitment Genius’ award submission focussed on its mission to enable British businesses to recruit more cost effectively. For £199 or less Research by the Chartered Institute of Personnel & Development found that 83% of companies surveyed are looking to reduce their dependency on traditional employment agency and instead consider more affordable and effective alternatives. This comes as no surprise when you consider that the average recruitment agency fee costs £4,138 rising to over £10,000 for senior management position. Not only are these costs becoming increasingly unaffordable for businesses they are also motivating organisations to not recruit and simply ‘make do’ with current staff levels.
By working to actively reverse this trend Recruitment Genius is enabling more people to secure employment and, therefore, a regular income.
Commenting on the Award received by Recruitment Genius, Andrew Areoff, Chairman of the Judges said: “Like many successful enterprises, Recruitment Genius is based on a simple but brilliant idea. By offering an affordable fixed-fee to recruiters, the company has attracted clients from small businesses to large corporations and has seen business grow by a whopping 10% a month. More than this, Recruitment Genius’ innovative approach to helping companies fill vacancies is an outstanding example of ways in which business can help kick-start the economy by reducing barriers to employment. The user-friendly website is an added bonus to what is an exceptional Best New Product/Service.”
The Recruitment Genius concept is relatively simple; for £199 or less Recruitment Genius is placing over 200 people per day in blue-chips such as Tesco, Shell and Ford as well as smaller organisations thereby saving around £4000 per placement. Admittedly not all of these jobs would have otherwise commanded the recruitment agency fee but for illustration purposes, if they had, that is £800,000 per day Recruitment Genius is helping save British industry. Even if half of these business are saving this level of spend the figures multiplied across the year very quickly speak for themselves.
At the time of launch the recruitment industry rebuked the Recruitment Genius concept. Why would a business offer a credible and reliable service at a rate far lower than the market currently commands? The answer is because its flexible and innovative business model enables it to. Essentially the way in which Recruitment Genius operates enables it to run a successful business from a commercial point of view whilst actively helping British businesses turn themselves around. And Recruitment Genius is operating successfully experiencing month on month growth of 10 per cent. It is achieving this success by successfully filling 93.4% of jobs; compared to the average percentage of 12.5% achieved by recruitment agencies.
More cost effective online recruitment is also a method which not only supports the current economic climate but also matches the needs of today’s market. A recent survey conducted by Recruitment Genius found that 61 per cent of respondents agreed the internet was the preferred method of looking for work. This compared to 20 per cent who preferred to use a recruitment agency and just 6 per cent who visited the Job Centre. The findings of the survey are supported by other industry statistics which estimate that over 93 per cent of candidates look online before considering any other methods and that 47 per cent of candidates never look in a newspaper.
In summary Recruitment Genius identified a real business need and set about creating a business model which was able to actively respond to that need. It has achieved that. It is successfully helping businesses recruit high quality staff for £199 or less and is helping people get back to work. Both key benefits in today’s economic climate.