4 tips to reduce your recruitment costs
Recruitment is often the biggest thorn in any business owner’s side. Hiring the right people for the role can take a huge amount of time. You have to create job descriptions, publicize them online, conduct phone and face-to-face interviews, and perform pre-employment assessment checks. And the worst part is, the majority of this time will usually be spent on the candidates who don’t even get the job in the end.
But no only does it take up a huge amount of your precious time, recruitment is also expensive too. For a start, spending all this time on hiring takes your focus away from growing the business and improving your processes. You also have the added costs of hiring recruitment agencies, onboarding, training courses, and online adverts. Facing all this expense can often lead business owners to rush the process, thereby making poor decisions and ultimately having to recruit again for the role at a later date.
If you want to streamline your hiring process and cut costs at the same time, here are four money saving tips to help you find the right employee without breaking the bank.
Use the right recruiter
Using a recruitment agency is a great way to save time and benefit from a wider pool of potential candidates. But it can also cost a great deal of money, so make sure you choose your agency wisely. Using a fixed cost recruitment firm is often much more cost effective than a contingency recruiter, and make sure you choose one who specializes in your industry. This will provide you with a dedicated service that gives you more resources to find the perfect candidate and will allow you to focus more on your business.
Reduce interview time
Interviews are often the biggest time drain in recruitment. You might spend up to an hour interviewing a single candidate, so make sure you have screened each one before they walk through the door. It is a good practice to conduct a short phone or video interview before you bring them in for a face-to-face. This allows you to get a sense of their personality and suitability for the role, meaning you can narrow down your candidate list much earlier on in the process.
Define your ideal employee
How can you find your perfect employee if you don’t even know what they look like? Before yo start conducting interviews you should take some time to identify the type of person you would like to fill the role. This criteria should include crucial characteristics like skills, qualifications, experience, and personality traits.
Improve employee retention rates
You won’t need to spend so much time on recruitment if your employees neve want to leave. If you find you always hiring for different roles, you might want to look at your employee turnover. If your staff are dissatisfied in their current role, it’s understandable they might want to find a new job with better development opportunities, salary, or working conditions. Take a good look at your business, talk to your employees, and look at what other companies are doing. Is there a way you can improve your employee retention and make them happier in their roles?