For recruiters and hiring managers, who might be on a strict budget, there is a delicate balance between minimizing your cost-per-hire and getting the most out of all the resources you have. With efficient planning, automation, and data-driven insights being helpful, you also need to know how to use the best tools at your disposal. Here are some ways you can start cutting back on hiring costs and still maximize the results of your recruiting efforts.
1. Introduce A Referral Campaign
Referral campaigns are a fun and innovative way of generating new potential candidates. By offering an incentive with your referral campaign (such a voucher or money if a referred person gets places), this can become an exciting initiative to everyone involved, whether they are employed in the company or not. Not only does a referral campaign help reduce the time spent cold searching for candidates but it’s also great for marketing your company and solidifying your social media presence more. However, when having such a campaign it is important to have very refined terms and conditions so you do not run into any complications.
2. Have a Solid Social Media Presence
In 2016, a SHRM study found that at least 84% of companies were using social media to recruit for new positions, and that at least 71 % of recruiters said that it was, “effective”, in reducing the “time-to-fill” for non-management jobs. But of course, developing and building a social media presence and attracting the right followers takes effort and manpower, if you are going to be using social media to advertise new positions, it’s important to hire yourself people who have experience in graphic design and digital marketing to ensure you social media posts and ads reach the right amount of people.
3. Outsource Recruiting to a Professional Firm
Partnering with a business-savvy agency offers many benefits, from a well-established talent community and social media presence to an intensely focused, “when you need it” recruiting service that can reduce your overall cost-per hire. The best recruiting agency will integrate seamlessly with your operations and become part of your HR or management team.
We at Black Pen offer a full range of services we help businesses in South Africa, Europe and the Middle East in finding the right candidates across all industries. We are South Africa’s
No.1 recruitment consultancy firm for foreign language recruitment, and all sectors of the BPO industry. You can visit our website here to find out more.
4. Create Clear & Compelling Job Adverts
For most job seekers, a job advert is the first thing they stumble across on your website, on a job board, or on social media and will therefore be the most crucial experiences they with your organisation.
Your job advert not only has to be well written and free of errors, it also needs to be compelling, optimized for search, and clearly outlines the job’s key requirements and responsibilities. Like trying to sell a high-quality product online, your job advert needs to sell the open position as much as possible. If there are specific keywords, ensure to use it throughout the job advert to ensure those that are applying understand the type of candidate they need to be to apply for the job. An example of this would be: if you are looking for someone that needs to have direct sales experience, a degree and an outgoing personality enough to repeat this to create emphasis, so that job seekers understand these are important factors. Similarly, if the role could be part-time, or flexible hours, or remote working are options, say so: you’ll broaden the range of candidates who will want to apply.
5. Limit the Number of Candidates
With so many job seekers out there, it’s normal to sometimes get an overwhelming amount of responses to job adverts you post. Many recruiters have come to expect dozens or even hundreds of applications for jobs. Trying to sift through everyone applications can become not only stressful but wastes valuable time, it is important to limit your energy and focus on only the most qualified applicants, ensure that you have a good CRM system or similar in order to screen through candidates efficiently and find the best ones for the job.
A business organization may be tempted to handle talent acquisition themselves, to save money. However, being completely overwhelmed by a large number of candidates, who aren’t sufficiently skilled for the position or who aren’t right for the company’s culture, can waste valuable time and cost more in the long run.
There’s considerable value in trusting the recruiting process to professionals who have years of experience and who maintain a highly quality database of premiere candidates. They will be able to quickly generate a small group of the best people, so that the manager can conduct interviews, get to know each candidate and hire in a timely manner.