Recruitment is not a process to be taken lightly. According to Undercover Recruiter statistics, companies must disclose a budget of £50,000 to their new staff member if they are to paint a picture of a serious employer. No matter whether it is a mid-sized company or a well-established one, this expense is huge, especially if the employees are being replaced in a relatively short period of time. A good way to approach this capital-intensive process is to take advantage of some proven money-saving tips. Read on to uncover some of these tips.
Automate Your Recruitment Tasks: If you are planning to rely on in-house resources for recruitment, then you could try automating certain tasks such as workflow maintenance, help desk messages, FAQs, post-application emails and so on. You can use the software available online to figure out the right resume with some keywords. This way, you are able to reduce recruitment time as well. Instead of calling out the candidate for a face-to-face, you could successfully complete the technical round on Skype.
Outsource Your Requirements: The assessment of a company’s progress is not an activity the management gets to undertake on daily basis. Therefore, there’s need to reduce the administration time through a one-time investment on recruiting the best candidate. This way, the management gets to have a greater visibility on the budget, given the payment is made on per candidate basis, sometimes after assessing consistency for 3 months. Exclusive search recruitment consultants usually have a large database of candidates and take care of the advertisement as well as screening and assessment parts on your behalf, as long as you provide detailed job description and requirement. You can cut down expenses on company resources by having an expert specialist do the recruitment. You can demand a refund and replacement if the candidate doesn’t suit.
Enhanced Employee Referral: The internal recruitment avenues top as the most inexpensive ways of hiring new employees. Not only will you get the most qualified candidate within a shorter span, you will also have a person to overview them. It’s apparent that the performance of the preferred candidate will impact the reputation of the employee who referred him to the company. In addition, this is one way to empower your own employees by enabling them to represent the company, thereby saving on advertising costs as well.
Commitment Contracts: You can rationalise your supply base with these commitment contracts. This works well when you have a year-long project and the resources have to be constant for the project period. Again, this is a strategy to keep the company away from investing back-to-back in the recruitment process. However, this is only a short-term strategy.
Productive and Flexible Workplace: Most employees tend to leave an organisation because they do not find the scope of growth or productivity in the workplace favourable for their careers. Not everyone would be happy doing non-productive, routine tasks on a daily basis. This feels like doing the same thing over and over again, creating a sense of junk and monotony. However, you could try to make the work environment fun and productive. Include more activities, assessments, extra tasks, and reading/learning time to keep up the productivity. There are some concepts like micromanaging that no employee likes, so always ensure you give your employees the flexibility they deserve.
Using the strategies discussed here will help you save money on recruitment. In addition, keeping the employees contented should always be your top priority. As a general rule, remember that before you struggle with the options of cutting down recruitment costs, ensure there is no need for frequent recruitment in the first place.