6 Great Ways To Reduce Recruitment and Hiring Costs

Recruitment and Hiring are the initial steps to make sure that you have the right people working for you. People who have the required skills and expertise and understand the goals and purpose of your organization. However, recruiting and hiring employees is not as easy as it sounds. It is a process that requires a lot of time and effort.

Furthermore, it also costs the organization a lot of money. From designing the perfect advertisements to attract the perfect candidates, to paying the hiring agencies and job boards to carry out the process. Even for companies who have separate teams looking over the entire recruitment and hiring process, it takes a lot of time, effort, and cost to find that perfect fit for the job.

This is a process that is equally demanding and hard for both parties, employer as well as the employee. With new job roles being created every day, it has become hard to find the correct talent for your organization but also convincing the person as to why they should work for you and not your competitor.

These are all the reasons that organizations are trying to reduce their annual recruitment and hiring costs. With that said, here are 6 different ways your company can do so;

Having Your Career Portal

Building your career portal is probably one of the most efficient things that you can do. This will not only reduce all the recruitment and hiring costs but will also give you more control of the process. You can go through all the applicant’s information yourself and make sure that you choose the best one for your company.

Having a career portal will also make it easier to know where to look for information and job vacancies for people who are looking for an opportunity to work in your organization.
With your career portal, make sure that it is extremely user-friendly and is a true and honest representation of your brand, the culture of your company, and its goals.

Digital Interviewing

With everything being done digitally and online these days, it is no surprise that job interviews are being conducted on the internet. Digital interviews help a lot in reducing the cost as both, the employer and the employee can interview from the comfort of their own space. The employee does not have to worry about traveling to another city to give the interview while the employer does not have to worry about accommodating the employee.

Employee Referrals

Just because you are looking for recruits does not mean that you can not ask the current ones. Many times, organizations go for employee referrals when they have a job vacancy. This has proven to be one of the most efficient ways of reducing recruitment and hiring costs.

This is because nobody understands the goals and work environment of your company better than your current employees. They know what you are looking for, what skills and expertise are required, and what does the company wants from the recruit. And based on all this knowledge, if they know someone who perfectly fits the criteria, they can refer them to you.
This saves a lot of time, effort, and money as you jump straight to the interview stage.

Use Social Media

Social Media is a great way to let the word out without much time and effort. You can simply design a job advertisement and put on all your social media pages and accounts. This is also a great way to raise brand awareness.

The only thing to be careful here is that you have to be very specific and concise in terms of what are the responsibilities and eligibility criteria of the job. Otherwise, you will end up with a lot of applications that do not fit your criteria and waste your time and effort.

Another advantage of recruiting through social media is that you will get applicants who already follow you on the internet and are familiar with the company’s culture and its values.

You can also use social media like Instagram, Facebook, and LinkedIn to already look through profiles of people who are looking for jobs. You do not even have to go through piles of resumes as they have all their experience and skills listed down. This can also result in costing you nothing as sometimes you do not even have to interview the candidate.


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