Something good and cheap will not be/come fast.
Something good and fast will not be cheap.
Something cheap and fast will not be good.
Lower quality (and fewer) candidates
If you squeeze a recruiter on price it may impact their budget on candidate attraction. They may not be able to advertise your position on the best job boards.
They may not be able afford premium LinkedIn licences to source as many top quality candidates. They may not be able to invest in candidate outreach and generation. In short, you may be limiting your access to top talent.
Lower quality recruiters
Reduced fees means reduced income. So the recruitment company may have smaller salary budgets to attract top recruiters.
These recruiters may not have the skills to engage credibly with top talent. They may have fewer recruiters in resourcing roles.
Instead of allocating two recruiters to your project they may only be able to budget for one. Budget prices may limit you to budget talent.
Your process may take longer
Recruiters with less resources and weaker tools may have difficulty finding potential candidates of good quality for you. It may take more time for them to choose and for you to interview enough qualified candidates. This means it will take longer to find the right person for your team.
Your assignment will probably not be your recruiter’s priority
The recruiter whom a client batters down to a lower fee, will probably not prioritise your work. They will have other work on at higher fees – it makes commercial sense to them to prioritise this other work. As such, your assignment will go lower down the list of priorities and your recruitment will take longer.
While extremely low fees may seem like a great deal initially, it's important to consider the long-term implications. Will the potential delays and lower quality candidates be worth the cost savings? Taking a step back and evaluating the bigger picture before making any hasty decisions is worth it.
Remember, finding the right person for your team is a crucial investment in your company's success. Think about the importance of a good hiring process, even if it costs a little more. In the long run, the right candidate can make a significant difference to your team's performance and overall success.