Talent acquisition plays a major part of an organization’s overall costs. Big companies usually have a large pool of money reserved for hiring talent, but not every company has this much resources to shell out.
Considering recruitment costs is something that recruiters and company management frequently have to consider. And thanks to technology, there have been ways on how this can be minimized. The success, of course, will lie on planning what steps should a talent acquisition manager take to contain recruitment costs without sacrificing the search for best talents.
Here are three ways in which you can reduce hiring costs to a minimum and still maintain the quality of hires in the organization.
1. Recruit through social media
According to MyParichay social recruitment survey, there are about 80% of recruiters that have made a successful hire through social media. Hiring through different social media channels actually provides better quality of talent in very minimal to zero cost.
Here, you can use these apps to post job openings, showcase your awesome company culture, and share how your company is shaking the industry on social media. Recruiting here hardly cost anything and with a slight expense, one can easily get the necessary tools that can optimize your effort.
2. Up your company career site
Using a recruitment system for your company career site creates a secure online environment where applicants can easily upload their resume and other documentation. It also benefits you as it reduces paper processing, streamlines the flow of electronic documents, and makes it simpler and more convenient for applicants. It also opens up the possibility to attract a wider pool of applicants, create, edit, and publicize positions in a few clicks.
3. Adopt pre-screening practices
There have been a few recruitment platforms that have simplified the whole screening process, so recruiters such as yourself do not have to spend large chunks of valuable time sifting through CVs and resumes one by one. Human resource systems and ATSs (applicant tracking systems) make the sifting process much easier by ensuring that candidates meet specific criteria before submitting their application. Qualified candidates are sent directly to recruiters’ inboxes, saving time and effort that can be allocated to other tasks in the recruitment process.
Want to drastically life your hiring burden? Try these processes out.