Hiring costs and time-to-hire newcandidates can increase quickly.
One must consider these low-budget hiring strategiesfor better results. Boost your careers page Hire via social media Leverage employee referrals Use video-screening methods Structure the process better to reduce employee turnoverAccording to a study conductedby SHRM, “the average cost-per-hire isaround $4,129.” This ends up becoming an add-on for companies who are planningto fill multiple positions in the entire year.You could go withvendors/consultancies or any external services, if you don’t have an in-houserecruiting team. The only aftermath is that it cuts into your organizational budgetand could prove to be expensive. You may also post on various job portals, butthat’s just another way of splurging money only to market your open position.Not just that, you’re also investinga lot of time in the interviewing process, and with that hope of reducing thecostly risk of recruiting we bring onboard, a bad hire.The bottom line is – to find theright fit at the right time is more important than ever!Here are some ways to reduce yourtime-to-hire without having the need to splurge money every time:1.
Boost your careers pageYour company’s career site is like awindow to your company’s open job opportunities and the people and culture. Inthis mobile age, you must ensure your careers page is mobile-friendly that doesnot compromise your employer brand. Your careers page acts as an accessibleportal that helps motivate job seekers to apply for positions directly on yourwebsite. This way, you’ll also reduce dependencies on job portals and otherexternal sites to acquire top talent.2. Engage and hire throughsocial media To spread news about yourorganization’s job openings and advertise your employer brand,social media is an effective and a low-cost option.
For example, you could poston Facebook/ LinkedIn and advertise open positions directly on your companypage. Through Twitter or Snapchat ads you could showcase your company cultureand encourage quality talent to apply for a job, right from their phone!3. Leverage employeesreferrals It’s easier to get quality talentwhen it comes to referrals as they already are pre-filtered by your employees,on the first go! Thus, it is the simplest way to reduce time-to-hire with minimalonboarding. Motivate your employees to share your open positions on varioussources to bring in quality talent and to create an atmosphere of enthusiasm aboutbringing new people on board.
4. Come up withstrategies to reduce employee turnoverConsider hiring any eligibleinternal candidates who could benefit from apotential employee development opportunity. Build a culture in yourorganization that nurtures career growth and is employee-centric. This is the keyto retaining top talent, as it cuts the turnover rate and saves hiring costs inthe long run.
5. Use video-screeningmethodsWith digital interviewing, yourrecruiters will be able to screen candidates anywhere and at any time.Implement the right video interviewing software to reduce expenses like travel andreduce time-to-hire rates.Getting high performing peopleonboard and making them ready to contribute towards your organizational goalsis a key to winning the talent game and helps companies succeed faster.Therefore, you need to structure your hiring process in such a way that youspeed up the process and save time and efforts of your candidates andrecruiters