How To Cut Recruiting Costs Without Sacrificing Quality

how to cut recruiting costs

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Many employers are finding a need to tighten their budgets. While the economy appears to be coming out of the recent slump, there is still a lot of uncertainty around what the next few months will bring. You may need to keep your recruiting costs down, but you can’t afford to cut corners on quality. It’s short-sighted and will only hurt you in the long run. Here are a few ideas to try to reduce the cost of recruiting top talent:


1. Referrals

Your current employees may be your best source of promising new candidates. Talented, hard-working people tend to know more of the same. Plus, it’s in their best interest to bring in people who will make their jobs easier. It may cost you a little if you choose to pay a referral bonus, but it will pay dividends in terms of lowering risk, eliminating the cost of advertising open positions, and shortening the hiring process. 


2. Branding

The best way to attract top candidates is by being a place where people want to work. Share your company culture through social media, be sure your website is up-to-date and accurately represents your workplace. Feature on-the-job pictures of your happy employees to make it more personal. Ask your whole team to share your social posts to extend your reach. 


3. Job posts

Too many employers simply copy job descriptions when they post a job online. This is a big mistake. A job post is a marketing piece. While you’ll want to specify your requirements, it shouldn’t read like a list of demands. The bulk of the content should answer the question “What’s in it for me?” for potential candidates. 


4. Screening

Interviewing multiple candidates is time-consuming. If you consider the cost of an hour for multiple decision-makers, it really adds up. Well-written job posts, clear company branding, and an efficient screening process can reduce the amount of interviewing required to make a decision. The candidates you take the time to meet with should have a serious shot at the job. 


5. Work with a recruiter

A recruiter who specializes in your industry and knows your area can be a valuable addition to your hiring team. They can help you refine your job description, thoroughly screen applicants, and conduct preliminary interviews based on your requirements. Because identifying solid candidates and interviewing them effectively is essential to their success as recruiters, you’ll increase your chances of getting the right person. You’ll only have to take the time to interview the most likely prospects, saving you time and money. 


Improve your process

If you are ready to hire or have questions about how to improve your process, contact the experts at Timpl