Kindly share your feedback on how subscription recruitment has been helping your company boost its success.
1. Please, tell a bit about your company and the area it specializes in.
OnHires is a global IT recruitment and staffing company that helps businesses scale by finding and hiring talents. We specialize in the high-tech industries like Web3, AI, Fintech, Cybersecurity and are growing fast. So far, more than 650+ people employed by us work in companies like Google, Revolut, Bitmedia, Binance, IBM, Duolingo, and Hacken. Besides, according to our clients' reviews analysis, we constantly demonstrate high client satisfaction with an NPS score of 10 out of 10 (Clutch).
2. How did the idea of subscription recruitment appear?
This idea came from experience. Initially, we worked on the pay-per-hire model. But over time, we began to notice that our clients increasingly expressed a desire to continue cooperating with us. So, we started to think about how to optimize the current model in order to better adapt it to the needs of our clients and make our cooperation even more beneficial for both our company and our clients. This is how the idea of subscription recruitment was born.
3. Please, tell us about the essence of this new model.
The subscription recruitment model allows our clients to save time and costs to receive recruitment services on a monthly basis, filling vacancies at the client’s request and in the required quantity. At the same time, the client acquires at their disposal a dedicated sourcer and a dedicated recruiter for the entire subscription period.
4. What are the features of this subscription?
I would highlight such essential peculiarities of subscription recruitment as a fully-dedicated recruiting team working on closing up to 5 vacancies per month, a 3-month minimum contract, monthly payment, 24/7 communication, and a customized hiring solution.
5. Please, tell us about the payment method for this model.
The payment method that underlies subscription recruitment is fixed fee recruitment. This payment method, in our case, means the monthly payment specified in the contract for the recruiting services of our company, stipulated in advance while signing an agreement. This way to pay costs our clients 40-45% less than applying the traditional pay-per-hire model.
6. What is the key difference between subscription recruitment and the pay-per-hire model?
There are several key differences, namely, the payment method that allows significantly save costs, the service of allocation of a soucer and a recruiter who work full time exclusively on this particular client, plus, subscription recruitment becomes wildly profitable when the client wants to close a lot of positions in a short time.
7. In a nutshell, what are the vital benefits of the subscription recruiting model for a recruiting agency’s clients?
As I mentioned above, these are significant cost savings when paying for recruiting services, a fully dedicated recruiting team and a customized recruiting service.
8. What is the benefit of this model for a recruiting agency?
The benefit for a recruiting agency is that, firstly, its client signs a contract for stable cooperation. Secondly, this model provides the agency with guaranteed payment for the entire duration of the contract. And, thirdly, this is a convenient work format for the agency’s recruiters, who get the opportunity to collaborate with one client, immerse themselves in their corporate culture as much as possible, better understand their standards and demands for candidates, which, in turns, lets them build recruiting processes more efficiently and fill vacancies faster and better.
9. Could you list the main complexities and limitations of this approach?
There are some of them. In particular, many companies cannot immediately decide on a three-month subscription, suspecting some hidden risks. Therefore, they prefer to start cooperation with a recruiting agency, like ours, for instance, with a pay-per-hire model. Then, there are also certain risks for the agency since this new opportunity is more beneficial for the client than for the agency if many positions must be filled at once. Finally, this model makes it necessary for the agency to have many recruiting teams on staff.
10. In conclusion, please, tell us what trends you see for subscription recruitment.
I think this is an up-and-coming model of cooperation since, today, in-house recruitment is becoming obsolete and economically unprofitable. More and more companies are coming to the understanding that it is much more effective to utilize the services of professional recruiting agencies that can put teams of experienced sourcers and recruiters at their disposal on the most favorable conditions for long-term cooperation. So, whatever one may say, the near future belongs to subscription recruitment!