4 Variations of Recruitment Firms
In Singapore, the job market is a very competitive world especially today. With this, the number of people that use the services of an employment agency is increasing. To know more about the growing market of this agency, here discussed are the four different types of recruitment firms that help job applicants get hired.
Below offers information about the various types of hiring companies and how each of them functions. The four types of employment agencies are as follow: the traditional agency, the retained search firm, the contingency employment firm, and the temporary recruitment agency.
Traditional Employment Agency
The most basic functions of a traditional employment agency are to help companies to hire staff and to assist job applicants in finding work. Many of these firms have particular specialisation such as information technology or IT, legal, sales and marketing, etc.
Some of the firms in this industry charge certain fee to the job seeker, so better ask about this matter in a direct manner to avoid unwanted charges; while others are paid by the hiring employer.
Retained Search Firm
A retained recruitment agency has an exclusive relationship with the employer. This firm is usually hired for senior-level searches and for a certain period of time. Firms that handle this type of service are paid expenses; they also get some percentage from the salary of the employee, whether the said candidate is hired or not.
A thorough investigation will be conducted to make sure that the job applicant is really qualified for the position. After the review and the applicant passed the agency's process, only then he or she will be sent to the employer's hiring manager. This is done in agreement with the contract of the agency with the firm that it will only present the most qualified applicants for the job.
Contingency Recruitment Agency
As for this third type of recruitment agency in Singapore, the employment firm is paid after a candidate is hired by the employer. In relation, there are also agencies that charge job seeker for their services. Therefore, be careful to clarify about any associated fees and inquire who'll be paying for it.
Contingency agencies are usually used when recruiting low and mid-level searches. They are also known for sending several resumes for employers to check or filter. Applicants who use this type of firm will be likely to compete with a large number of candidates who probably found the job notification through different sources including the job boards, online portals, HR departments, etc.
Temporary Recruitment Firm
This type of agency looks for people or applicants who are willing to fill temporary tasks. A good example of this is when a certain company needs additional hands to work during the season like Christmas or when a regular employee applied for long-term leave of absence due to illness or for a family vacation abroad.
Since there are instances wherein the temporary position becomes permanent after the employer decides to hire the candidate, they've now expanded their role in the employment industry.