Contract pricing is based on different variables. Most firms in the recruiting and staffing services industry use a rate card and speak more about the transaction than assigning the right person.
Each job and each company has its own DNA. Your job requires sourcing, tech, marketing and recruitment roadmap. Some maps are just straight lines, and the network of skilled candidates is ready to go. Others are more complex involving a circuitous route of different technology, marketing, more complex interviewing, and a large slate of talent to pinpoint the right associate.
There are four variables that drive price (hourly rates) on every contract/temporary job, and this is true no matter what staffing firm is your partner:
- Required skills and experience
- Location (now including work from home/remote/out of state)
- Talent/skill demand and availability
- Vetting, qualifying and/or credentialing processes
After these four, it comes down to what is important to you in a staffing partner representing you in the talent space and working on your team and your culture.
LLoyd continuously invests in streamlining and innovating our process to reactivate and re-engage talent from our LLoydEmployed community.
We believe this helps build their careers and drive more flexible pricing for our client partners.
Direct Hire Placement
Direct hire placement is a true process when done right, executed professionally using a planned strategy. A roadmap must be built with a pure Direct Hire Specialist leading the way with you.
LLoyd has a defined cost structure which is a percentage of the candidate’s first-year base salary.
This percentage (typically 20%) is based on the expected technology, sourcing recruiting process costs, and professional vetting/interviewing required for the search.
Here is what can impact the cost of a LLoyd search:
- Complexity of the role or skills required
- Current availability of talent with those skills/experience in the marketplace
- Number of hires to be brought on board
- Urgency and expectations of the hired candidate
- Location of work
- Number of stakeholders in the decision process
- Salary (must be realistic to attract desired hire)
- Confidential vs. open search status and/or exclusivity
- Talent brand
- Mutual partnership responsibility
The Critical Must-Knows For Successfully Filling Every Position
Regardless of who you choose as your hiring partner, you should know these points when filling a position:
- What is the cost of the open role to the organization?
- Communicate the why of your organization, so that top talent would consider exploring the option to work with you.
- The interview and hiring roadmap that is in place so that you present the job consistently to all candidates to keep them engaged and interested.
- What job flexibility is required to fill the open position and when a contract or direct hire is the best solution.