Hiring the right candidate is essential to the backbone of any company – so the recruitment process must be handled meticulously by recruitment experts. As a result, organisations have the choice to use in-house recruitment or recruitment consultancies.
In this article, we will compare several factors that can influence the company’s direction when deciding on a recruitment method – including the cost, risk and industry expertise.
In-House Recruitment
In-house recruitment involves managing the entire hiring process internally. This may include advertising roles, screening candidates, conducting interviews, and making final selections.
Some organisations have dedicated recruitment teams, while others delegate hiring responsibilities to HR teams, managers or team leads—for example, a finance manager recruiting a new assistant.
Recruitment Consultancies
Recruitment consultancies, on the other hand, offer specialised services to source and place candidates. These agencies often have deep market knowledge and can manage the entire process with minimal input from the company, in return for a fee.
The Cost of Recruitment
It’s too simplistic to claim one method is always more cost-effective than the other. Recruitment need may vary- as do the costs associated with it.
Organisations with ongoing recruitment needs may benefit from an internal recruitment team, able to keep their ‘finger on the pulse’ of the specialist areas the business works in- with the cost of using a consultancy exceeding the salaries of those working in in-house recruitment.
For companies that hire infrequently, maintaining an in-house recruitment team may not be financially viable. In such cases, using a consultancy is often more efficient.
That being said, companies that are looking to recruit a high volume of employees on temporary placements – for example, interim contracts or seasonal staff- may be interested in also using recruitment consultancies. Consequently, this can allow an in-house team to recruit more permanent staff without overwhelming their resources.
Industry Expertise
Some companies prefer internal recruitment to ensure candidates meet specific technical or industry requirements. Having a recruiting team that knows the company inside-out means that the probability of recruiting the wrong fit may become lower.
Organisations may view that outsourcing their recruitment process may be deemed too risky because the consultancies may not have the same industry-specific expertise.
However, this perception that agencies lack industry knowledge is increasingly outdated. With the right recruitment consultants, businesses can access candidates with precisely the skills and experience that they require. Specialist agencies—like iMultiply focus on finance roles and therefore bring expertise and a deep understanding of the finance & accounting sector.
Furthermore, reputable recruitment consultancies aim to build long-term relationships with clients and potential candidates. Therefore, getting the right fit is also in the best interest of a recruitment consultancy that wants to work with companies continuously. Consultancies, like iMultiply, guide both employers and candidates through every stage of the recruitment journey, ensuring a strong fit and lasting success.
Networks & Time Efficiency
Internal recruiters (certainly those out-with specific recruitment teams) typically rely on job boards, company websites, and existing company talent pools. But this is not recommended; only a very small percentage of ‘potential recruits’ spend time searching job boards or websites for new roles – the vast majority are relatively happy in their current role and only choose to consider new options IF they are approached directly with a great opportunity.
Recruitment agencies maintain extensive networks of industry-specific candidates. This allows them to identify the right fit efficiently, speak to prospective candidates who are never going to find the role by themselves, allowing for faster placements and ongoing support for both employers and job seekers.
As previously mentioned, recruitment agencies can also have specialist teams for temporary and interim roles. These types of roles require a quick recruitment process for both parties. Consultancies can be beneficial for candidates who prefer temporary placements.
Conclusion
Choosing between in-house recruitment and external agencies depends on your company’s size, hiring frequency, and industry needs. While internal teams offer control and cultural alignment, recruitment agencies provide speed, expertise, and access to a much broader talent pool.
At iMultiply, we combine deep finance sector knowledge with a commitment to long-term partnerships—helping businesses grow with the right people, every time.
Ever Thought About Interim?
Still struggling to decide which recruitment option is best for recruiting an external candidate? The recruitment process can come with risk and the hiring the wrong candidate can be costly. But have you ever thought about interim?
External recruitment doesn’t always mean committing to permanent contracts. Interim hiring-bringing in professionals on short-term or project-based contracts-is becoming increasingly popular, particularly in sectors like finance and technology.
Interim professionals are often highly experienced and can be deployed quickly to:
- Lead change initiatives
- Support business transitions
- Fill leadership gaps during restructuring
- Stabilise operations while permanent roles are being filled
This flexible approach allows companies to benefit from external expertise without long-term commitments, making it a strategic solution during times of uncertainty or growth. Interims also require very little training due to their extensive industry knowledge. This means that they can concentrate on the core objectives, thereby becoming a highly effective asset to the organisation.
Contact us
Thinking about using a recruitment consultancy – or simply interested by interim work?
Drop us a message today- we look forward to hearing from you!
