A preferred suppliers list (PSL) can be detrimental to the hiring success of companies that deal exclusively with their ‘preferred recruiters’ on the PSL. Typically, a PSL is managed by a company’s HR (human resources) department, and although they may deal with the recruitment of the organization, they may not fully understand the exact type of candidate the hiring department are looking for. This can often cause problems in hiring as the recruitment consultancies are only aware of what the HR consultant advises, and not what the manager of the department wants from the prospective candidate. It is advised that companies allow the line manager or departmental head to assist with the recruitment strategy and allow prospective recruiters to call them with potential, yet exceptional CV’s.
By refusing to hear from any other recruitment consultancy because they do not feature on your PSL, may be reducing your chances significantly of finding the perfect candidate. There is little harm and no costs involved in accepting quality CVs from outside recruiters, on the off chance they may provide you with the perfect candidate, should your preferred suppliers fail.
Preferred Suppliers Lists are always up for discussion and many companies will be open for new tenders every few years. By working with a range of consultancies and experiencing how successful they are in finding good employees, you can easily ascertain whether they are worth a place on your PSL, when it is next up for review.
Allowing outside recruiters to try fill your vacancy may mean you are dealing with more phone calls or emails than usual, but this is a cost free way in ensuring you are visible to the best candidates in the market. It is also a competitive hiring strategy as each consultancy firm that is trying to fill the vacancy will try to offer you the best fee – allowing you to pick the best recruiter in line with quality and cost.
Sticking to your PSL can mean that you spend far longer in finding the right employee if your current suppliers cannot find you a good candidate to interview. The hiring process is already a costly, disruptive, and time-consuming one and so it is vital to cut costs, time and effort wherever possible without jeopardizing the quality of candidates found. Opening your vacancies up to outside recruiters who have credible candidates looking for work, can help you find a recruitment solution, in the most cost effective way.