8 Benefits of Hiring Financial & Banking Candidates Using a Staffing Agency

Hiring managers, recruiters, and human resources managers often work with staffing agencies or employment services to fill vacant seats and positions. Staffing companies offer various services and types of employees – from entry-level employees to management and executive positions. In addition, if your small business needs temporary, temporary-to-permanent, or direct-hire placements, there are many benefits to working with a staffing agency for your next job opening.

There are several benefits to using a staffing agency for companies of all sizes. Also, smaller firms can compete more effectively for top talent with staffing agencies ’ assistance. These businesses often lack an HR department or even a human resources professional on staff, so they don’t have the dedicated resources to find and acquire great employees.

What Do Staffing Agencies Do?

Staffing agencies check references; screen resumes, shortlist candidates, schedule interviews, and place candidates who work on-site on behalf of the employer. The candidate can be an employee of the Staffing Agency working under the control of the employer. Regardless of how well a company lists its employees, staff shortages are bound to happen.

An employer doesn’t have time to search for candidates in the case of:

  1. When employees need time off.
  2. Overtime pay rises too much.
  3. A short-term project requires additional employees.

Using a staffing agency to hire workers allows employers to focus on their business growth without additional hiring stress.

Benefits of Hiring Candidates Using a Staffing Agency 

Here’s why these staffing agencies could be of great help to your business. Let’s look at a few benefits of hiring a staffing agency:

1. They Save Cost

The most crucial benefit of a staffing agency is that it brings considerable savings in hiring costs. Companies can save on costs incurred

  • Advertisement of their vacancies on various media,
  • Pre-employment testing, background testing, and drug screening
  • Creating a Payroll Database
  • Training and Onboarding

For a business associated with the IT domain, laying off people when the business is slow can negatively affect balance sheets and reputation. So keeping part of your workforce temporary through a staffing agency can save on unemployment costs. In addition, the Affordable Care Act says that a company must provide health insurance for its employees when they become 50+. But if you are a startup unable to afford such costs at such a starting point, then using a temporary staff of IT staffing agencies can be one of the cost-effective solutions for you!

2. They can try out an Employee Before Hiring

It is hard to determine whether a candidate will be a fit or not through an interview alone. This can cause a considerable headache later if the employee doesn’t mesh well with the organizational culture or lacks skills. 

Not even this, but there is also a position that needs to be filled immediately. If a worker doesn’t fit in using an agency, they are removed from the project and replaced on the following line. It allows both the employee and the employer to decide whether the placement was successful without worrying about the long-term relationship.

3. They Have Expertise

Staffing agencies possess a level of expertise far exceeding most companies’ human resources departments.

Unlike the Human Resources department, where they are exposed to one type of group of people, the recruiting agency meets people from different industries. As a result, they get the opportunity to learn about leading-edge technology, how technology is shifting, and what are the trends in the market.

4. They Have Management

Interview processes usually have several pre-checks that a candidate has to pass before attending the interview. The human resources department alone cannot perform all the processes that include checking credentials, conducting screening tests, and passing reference checks.

By delegating all these tasks to the recruiting agencies, the company does not need to scrutinize these candidates. So, while conducting the interview, company officials can be relieved that the candidate has cleared the preliminary screening and verification procedures.

5. They Have a Wider Pool of Candidates

The recruitment agency should always be bound to recruit the best suitable candidates for the job. That’s why recruiters take great care in doing their job. They will select only those candidates who they think are suitable for the job. They should feel that the aspirant is suitable for the job and can do well in the field. Hence, such recruiters give a sense of security to the company in terms of quality hire.

6. They Provide Temporary Staffing as well

Various staffing agencies provide temporary staff for a company to control the employee’s turnover and prevent losses for the company. Also, staffing agencies provide candidates directly to the companies, and hence no middlemen are involved. So, it leads to fewer scams.

7. Follows Specific Procedures

The main objective of a staffing agency is to handle the processes that the company follows, typically in hiring a workforce. However, specific procedures cannot be omitted when hiring a new employee; these include verifying educational achievements, verifying background, and making sure the employee doesn’t have any criminal record.

These processes take a significant amount of time and money to verify and create the reports required. If you are hiring a staffing agency, they will do this work for the company and save time and capital.

Some agencies may also provide a money-back guarantee if the information they verify is untrue.

8. They Provide Higher Chances of Finding Qualified Talent

The staffing company has a wider circle of clients, i.e., companies and employers, and candidates. Since they recruit for different positions and job types ranging from very short to permanent positions, they provide higher chances of finding the ideal talent quickly.

Hiring a staffing agency can solve many problems that an employer may struggle with when recruiting all alone. However, you must ensure that you’re working with a specialized staffing agency. For instance, Empowers Staffing is a specialized staffing and recruitment agency that provides quality Banking & Finance professionals to its clients.

Empowers Staffing Inc

Empowers Staffing Inc

Empowers Staffing is the fastest-growing minority-owned Recruiting and Staffing Company. Empowers Staffing connects with your organization to understand your staffing needs and provide you with the most diverse skilled professionals in the market.