Social media, online recruitment, managed service and outsourcing models have created whole new ways for us to look at the way we now recruit.
Candidates are more accessible to you than ever before. Yet for many, recruitment costs remain critically high and new skills and ways of working are required to become more effective.
TEN tips to help you reduce your recruitment costs:
1. Avoid using recruitment agencies for non-specialist, non-executive permanent recruitment – an obvious tip but for many, the least adhered to. Become more planned in your approach, allocate the right resources and avoid knee-jerk reactions which result in costly agency invoices.
2. Use the right social media tools, not necessarily all of them – understand where your audience is and invest time in connecting with the right people. For instance, did you know there is a healthy community of housing professionals on Twitter?
3. Ask your best people – referral schemes play a key role in driving down the cost per hire. A well thought out referral scheme will encourage your people to spread the word among their friends, family and networks.
4. Keep the door open for those who do leave – social media is making it very easy to keep in touch with former employees and with the cost of re-hiring a former employee
reported to be a third of the cost, this is an all-round cost-effective option.
5. Use agency staff sparingly and only for short-term roles – agency staff are expensive yet having access to a flexible workforce can be beneficial. Make sure you can track tenure and pay rates and if you are a high-volume user of agency staff then consider a managed service solution.
6. Avoid paying fees to source niche skill sets – implement a graduate, apprentice, industrial placement or intern programme alongside a planned training programme and create your own talent pipeline for your future workforce needs.
7. Remove the transactional burden associated with recruitment and outsource to a specialist provider – lose the transactional headcount in your team, recruit more senior staff and become a more strategic focused HR function.
8. Understand why your people leave – it’s a well-known fact that people don’t leave jobs, they leave managers. It’s also well-known that leavers are less than truthful about their motivations for leaving when talking to their HR team or line manager. Consider an external provider and get to the root cause.
9. Implement an effective bank solution – if you employ a lot of care and support staff, make your bank is your first port of call when short-term staffing needs do arise.
10. Embrace technology – ‘recruitment by hand’ causes all sorts of problems. Lost applications, lengthy application processes, employing extra people to wade through high volume responses. Consider applicant tracking technology or an outsourced solution that comes with it included.
With the world of recruitment changing, recruiting the best talent for your organisation doesn’t have to cost the Earth. Measures such as the ones above are innovative and cost-efficient. Many companies who have taken advantage of such opportunities are reaping the benefits right now – read how they did it here.
To find out how you can reduce your recruitment costs and streamline your recruitment process, please get in touch by email or on 07939 297 337.