Corporations around the world spend millions of dollars each year on improving their information systems to gain competitive advantages in the market place. One of the biggest challenges faced by these corporations is finding the right talent to staff their critical IT projects. They rely on traditional recruiting process to hire candidates for their requirements.
In the traditional mode of recruiting the hiring companies resort to either working through Internal Recruiters or Staffing/Placement firms or a mix of both. These recruitment models exist with their inherent set of challenges
Scalability:
Having to meet the inconsistent requirements based on uneven and sporadic requirements through out the year which makes resource planning very difficult.
Market Research:
Limitations to network and source talents from various job boards, job fairs, resume databases, campus interviews and other networking methods.
High Cost:
Huge cost associated with Salaries, Incentives and Administrative expenses.
Higher Cost:
The staffing companies add approximately 40-60% to the hourly cost of the resources.
Vendor Management:
Selecting and Maintaining relationships with multiple staffing vendors is cumbersome and difficult task.
The above models have been widely used by organizations despite all the challenges because of lack of more creative alternative solutions.