Now more than ever, companies are relying upon recruitment agencies to source temporary and full-time employees, and as a result the recruitment industry is expected to have a very busy 2018. New research by the Recruitment and Employment Confederation (REC) revealed that 67% of UK recruitment agencies are forecasted for revenue growth in 2018, which is up from 60% in 2017, which is in line with the projected GDP growth for the industry of 3.8% in 2017/18 and 3.6% increase in 2018/19.
This growth will see the demands on agencies intensify, putting pressure on them to get through the workload faster and more efficiently. To achieve this, agencies are addressing the time and money spent on paper-based admin tasks so that consultants can focus on the clients.
In any business, time is money; and a report by Neopost found that the continued use of paper- based processes impacted business efficiency, productivity and profitability due to the limited access of paper documents and the unnecessary expense of using paper and processes surrounding it such as printing and postage.
For Recruitment Agencies the backend processes of guiding a candidate from application to on-boarding in work can be heavily paper based, time consuming and costly. Here are just some of the steps involved:
- Register new candidates and gain consent to store their data (in accordance with GDPR as of May 2018)
- Draft unique contracts in relation to job and candidate
- Track and sign off timesheets
- Hire internally and show procedure compliance
This list could go on, and when you consider a recruiter could lose 30% of their day searching through information in filing cabinets and emails, then there is a lot of time wasted and money lost through inefficiencies. Hence why this has been the area focused on by recruitment companies to refine and therefore increase productivity, which is why more and more agencies are using electronic signatures.
Electronic signatures allow for the digitisation of candidate consent, registration and contract completion, whilst keeping all records of document transactions traceable within a fully compliant e signature platform, instantly reducing a large part of the paper-based processes which currently plagues the recruitment industry. Here are some of the benefits of electronic signatures in the recruitment industry:
Faster contract completion
Candidates receive their contracts via secure email to read and esign. Once esigned the document is instantly sent back to the recruitment agency to proceed with the next stage of candidate on-boarding. What once could take over week by traditional post can now be complete in minutes.
Every candidate is different; therefore, every contract is different. Having to create a new contract for each new candidate can be laborious, however with an electronic signature solution, editable contract templates can be created allowing the recruiters to modify variables such as name, job, salary etc. unique to the candidate without having to create a completely new contract each time.
Track your contracts
Understanding where your important documents are within the workflow is important for productivity. Knowing a candidate has received the contract, opened it a number of times but hasn’t signed it gives the recruiter the knowledge to chase this candidate up and get the deal completed.
Some documents can need multiple signatures from multiple parties, such as timesheets. Electronic signatures allow for the document to passed between parties securely for each to esign, whether at their desk or on the move. As these documents pass between parties, the administrator of the document is aware of where it is in the workflow and can chase people up directly if needed to prevent any delays.
GDPR - Capture consent
With GDPR set to commence on May 25th 2018, recruitment agencies are set to face some significant challenges. Separate consent must now be sought for the use of personal data for the various activities involved in the recruitment and hiring processes and every new candidate should be aware of the recruitment agency’s intention and purpose of storing their data. Therefore, capturing the candidates consent upon registration with an electronic signature provides the recruitment agency with irrefutable evidence of consent and the confidence that they are adhering to the new legislation.
Electronic signatures can significantly help the recruitment industry streamline its processes during this expected period of growth with very little inconvenience caused. E-Sign has extensive experience in helping recruitment agencies digitise their documents and processes.
E-Sign creates online signatures that have:
- SPEED OF A VERBAL AGREEMENT
- LEGALITY OF A WRITTEN CONTRACT
- CONVENIENCE OF A DIGITAL EXCHANGE
- SECURITY OF A BIT-COIN TRANSACTION
So, whether you need a swift capture of candidate consent, secure handling of a contract signing, digital completion of timesheets or managing any of the other myriad of vital signable documents, make sure you use E-Sign’s legal e-signature solution.Share comments powered by Disqus