With the economy still struggling, business across the UK are looking for ways to cut back on expenses.
Of course, there are many possibilities when it comes to lowering costs, but one way firms can make instant savings is by bringing their recruitment in-house, rather than going through an agency.
This week, an article in HR Magazine looked at several ways firms can go about doing just this.
It noted that – with recruitment agencies demanding as much as 25-30 per cent of yearly salary in placement fees – the financial savings of direct or in-house recruitment can be enormous.
Indeed, Jagex Games Studio calculates that adopting a more direct recruitment route saved £1 million in agency fees in 2012, said the magazine.
But as well as financial savings, there are other advantages of employers taking responsibility for their own recruitment processes.
For example, companies are more likely to know themselves exactly what there are looking for in a potential employee and where to find talent than a third party agency.
Mike Bickford, head of resourcing at Network Rail, told the magazine that in 2012 his organisation received more than 30,000 applications for 1,000 individual roles, thanks to a recruitment drive that leveraged the power of the company's existing consumer channels.
"We're lucky in that rail travellers tend to be internet savvy – buying tickets and checking train timetables online – so we can attract collateral traffic."
In-house employment can also help strengthen a brand identity, said Jason Gowlett, head of resourcing at Direct Line Group, which has its own specialist internal recruitment team and careers site.
"With the maturing of our business and the building of the our employer brand, we are developing our name for the future so that we become a popular choice in the wider market and word of mouth will begin to work for us," he told the magazine.
Of course, running your own recruitment drive can be time consuming, particularly for smaller firms who may be short on manpower.
But by thinking ahead managers can find ways to make the process more efficient, such as conducting interviews via conference call technology to vet prospective employees before inviting them in for a formal interview.