From the moment you start posting jobs adverts to the moment you're choosing the candidate you want to hire, you've got many recruitment tasks to do. And these can be expensive. The costs of recruitment agencies and any delays in hiring a new candidate can be a major cost to your business. Here are some tips on how to reduce recruitment costs during your next hire.
Share vacancies for free on social media
Paying for the services of a recruitment agency can get costly if left unmonitored. However, there are other ways you can advertise your job adverts. Sharing vacancies on social media is an excellent way of reducing recruitment costs. Businesses are constantly posting vacancies on LinkedIn, Twitter and Facebook. Whilst there are paid options on all social platforms - you should start by posting on your company page for free.
Do you have a company blog? Post about your latest vacancies and share the post. Pin your tweet on twitter so that all new visitors see this first.
Quick Tip: Ask your employees to share your vacancies on their personal accounts. It's likely their following will include people with similar experiences and skills.
Offer incentives to get employees to help you recruit
Your employees are a fantastic means of reducing recruitment costs.
It's very likely they will know some people who would be interested in the jobs you're offering. Your employees can spread the word and sell your company to potential candidates.
Every time you get a new vacancy, tell your employees about it. You can also offer incentives to encourage them to get involved; like a couple of days extra holiday or a gift bonus. Treating your helpful employee is cheaper than paying the services of a recruitment agency.
Use video screening
Without a doubt, more businesses are using screening interview methods to speed up the hiring process and reduce costs. Using screening questions in telephone interviews is beneficial because you can talk to the candidate and determine whether they are suitable for your vacancy before inviting them to your office.
But the problem with telephone interviews is, you cannot see the candidate. This is why video screening is taking off in popularity. Employers can now send video screening questions to candidates and the candidate can record themselves answering the questions. It gives interviewers the opportunity to see whether the candidate is suitable for the role and help speed up the overall hiring process.
When you're hiring for several different vacancies, along with interviewing multiple candidates every week, you need an effective candidate tracking method.
Online applicant tracking systems track all your applications and give you a clear time line of each candidate. This way, there is no confusion and there is clear transparency between your team.
Applicant Tracking on Optimize
Optimize is an all-in-one talent acquisition and hiring software which effective tracks each candidate so you can see exactly where you're up to in your recruitment. No loose ends and no speed bumps.
Look to your most recent hire
By looking at your most recent hire, you could find more potential applicants who were in a similar situation as them.
For example, if your newest employee previously worked at a company they were unhappy at, it's possible you could find other talented individuals at the same company who are ready to look for another job. It's beneficial to approach your new staff member and ask them if they know anyone who would be interested in your new vacancies. If they know anyone, this is an excellent way of sidestepping recruitment agencies and approaching people who would be perfect for your new vacancy and happy to be approached by you.
You could ask your new employee to speak to them or when you send them an email, you can mention you were recommended by your newest member of staff.
Create simple email templates for you and your team
While you may want to write each individual email to a candidate, it's just takes too much time. Having templates prepared can help you speed up the process and save costs. These templates can be edited so you can add personal notes to candidates but on the whole this is designed to help you send emails out faster.
Here are some of the different email templates you need to create:
- Job FAQs - if someone wants to know more about the job, this is a quick and handy templated email you can send out which explains more about the job and responsibilities involved.
- Interview 1 - the invitation to an interview email should include time, date and location of the interview. And if the candidate needs to bring any additional material with them.
- You were unsuccessful - Many HR teams have a templated 'you were not successful' email. It's beneficial if you leave some space so you can add notes to explain why they were not successful.
You will recognise what type of emails you're regularly writing and whether it's time to create a template for them. Creating templates is an excellent way of reducing recruitment costs.
Time is money: want to reduce recruiting costs at every step?
We've created a guide that provides tips on how to speed up your recruitment process before you start hiring, during the hire and afterwards. By optimising your hiring methods, you can speed up your recruitment and save money. Download a free copy of your eBook.