Benefits Of Entrusting Your Employment Needs To An Executive Search Firm

Companies have two main options when it comes to hiring talented people: they can do everything in-house or outsource the effort. The former provides more absolute control over the hiring process, but comes with a set of challenges. Employers must not only dedicate valuable resources to attracting, vetting, and interviewing candidates, but must also continuously keep close tabs on the pool of available prospects.

The second option, outsourcing the effort to an executive recruitment firm, is the approach preferred by countless organizations. Rather than shouldering the responsibility of finding and vetting talented jobseekers, employers can rely on search firms to handle the job for them.

As a business owner or manager, you know firsthand how much work is involved with finding and luring the right people. A headhunter at an executive recruitment agency can lessen the burden. If you’re uncertain whether hiring one is the right solution, it’s possible that you’re unfamiliar with the benefits of doing so. We’ll cover several advantages that a headhunter can offer below.

No Need To Spend Time Screening Jobseekers

Screening potential employees is an important part of the hiring process. You want to avoid hiring individuals who are inappropriate for your company. The only way to do that is by conducting multiple interviews, doing background checks, and even testing candidates to verify that they possess the appropriate knowledge and skill set.

Proper screening takes a significant amount of time. Outsourcing the task to a reputable headhunter allows you to allocate that time to other objectives.

Devote Fewer Staff Hours To Hiring People

Consider how many hours a hiring manager spends reading through a resume, conducting one or two phone interviews, and then two or three in-person interviews with a candidate. Add to that the time needed to order a background check and peruse the results. The entire process can easily consume 20 hours or more. Worse, there’s no guarantee that it will result in a new hire; the candidate might accept an offer elsewhere or prove to be unsuitable for your organization.

When you work with a headhunter, you regain control of resources that would otherwise be lost to interviewing and vetting jobseekers. If you have multiple positions to fill, the time saved is likely to be substantial.

Use A Headhunter To Tap Into An Otherwise-Missed Pool Of Candidates

When employers need to hire qualified people, they usually place ads where jobseekers are most likely to see them. The problem is that a vast majority of the individuals who see such ads are actively looking for a position.

The best candidates are oftentimes those who are already working. Not only are they more likely to be current on the latest technologies that are relevant to their industries, but their ongoing employment is an indication of their value.

Executive search firms have access to a market that includes individuals who are currently working in their fields. These individuals, happy with their jobs, are unlikely to see ads posted for similar positions at other companies.

Lure Good Candidates From The Competition

Your competitors are probably employing people you would love to hire if given the opportunity. You might be happy to match, or even exceed, their salary and benefits to have them work for your company. Unfortunately, there are obstacles that make luring them away difficult.

Employee poaching is a common practice, especially in high-tech industries where workers have specialized knowledge and skills. Many tech companies have erected safeguards — from non-compete agreements to performance-based incentives — to prevent their competitors from luring away talent. Circumventing those safeguards may prove all but impossible.

Headhunters maintain contact with a large swath of qualified individuals, many of whom are working for your competition. With a phone call, they can persuade these individuals to consider your overtures.

An Executive Search Firm Makes Hiring Simple

Outsourcing your hiring means leveraging the extensive resources of an executive search firm. It entails taking advantage of the recruiter’s understanding of the prospect market, including knowledge regarding what motivates jobseekers. It involves making full use of the recruitment firm’s expertise with regard to prospecting, interviewing, evaluating, and vetting candidates. Ultimately, it means saving considerable time and effort while attracting qualified individuals who can add immense value to your organization.

Should you use an executive recruiting firm to fill positions? If finding talented, dependable people to add to your team is a priority, it’s a decision worth serious consideration.

Please click on the following page:

Changes in COBRA – PART 2 – What Employers Need to DO employment needs

Earlier this year, on February 17th, 2009, President Obama signed the “American Recovery and Reinvestment Act (ARRA)” into law. “ARRA” provides a partial subsidy of COBRA and state mini-COBRA premiums to qualifying “assistance eligible individuals” (AEIs), their spouses, and their dependents. Premium assistance for these individuals began on or after the date the law went into effect and at this point lasts through December 31, 2009.

Once eligibility is determined according to the parameters of the law, here’s what employers need to DO to be in concert with the legislation.

What Employers Need to DO

COBRA subsidies will be available starting March 1, 2009. The employer must take the following actions promptly, if they have not done so already.

  1. Notices to re-enroll for current COBRA recipients: Qualified beneficiaries who are currently on COBRA must make a new election to establish premium assistance under ARRA. You must send these individuals COBRA re-election notices with their new temporarily subsidized rates.
  2. Extended election period for AEIs who didn’t initially elect COBRA: The ARRA legislation applies to all assistance eligible individuals whose dates of involuntary termination extend back to September 1, 2008. These individuals who did not initially elect COBRA or who have allowed their COBRA coverage to lapse now have a special extended COBRA election period (beginning February 17, 2009 and ending 60 days after they receive an employer-provided notice). Thus the employer must track down all employees whose coverage has been terminated since September 1, 2008 and send them the newly required subsidy availability and election notice.
  3. Finally, employers must notify insurers of who is partaking in the new subsidized COBRA coverage.

Please note that if you fail to provide timely notification (i.e. within 60 days of the Act becoming law – by mid-April at the absolute latest) to ALL assistance eligible individuals, you are subject to the standard COBRA penalties under ERISA (up to $110 per-day). You may also be subject to excise taxes of $100 per-day, per-notice under the Internal Revenue Code.

Can your company afford not to send all assistance eligible individuals timely notification?

The Department of Labor has been directed to update notices within 30 days of ARRA enactment, which has obviously passed (March 17, 2009) at the absolute latest. However, if you handle your company’s COBRA in-house, you are also required to have sent an updated General Notice by March 17 to reflect changes to compliance brought about by ARRA. So there’s NO time to waste on this.

Finally, keep in mind that this is not cast in stone, for instance, the deadline on the legislation is the end of 2009, but that may be extended, and your state may also have legislation changes that must be followed. In the case of Massachusetts, for instance, some changes are even more aggressive. Be sure to stay on top of these issues – whether you’re an employer OR an employee. It’s a responsibility that you dare not overlook.

Changes in COBRA – PART 2 – What Employers Need to DO