{"id":2684,"date":"2022-05-09T21:55:17","date_gmt":"2022-05-09T21:55:17","guid":{"rendered":"https:\/\/fieldoftalent.com\/staging\/?p=895"},"modified":"2022-05-09T21:55:17","modified_gmt":"2022-05-09T21:55:17","slug":"step-by-step-guide-save-money-in-recruiting-hiring-process","status":"publish","type":"post","link":"https:\/\/fieldoftalent.com\/staging\/step-by-step-guide-save-money-in-recruiting-hiring-process\/","title":{"rendered":"A step-by-step guide to save money in your recruiting & hiring process"},"content":{"rendered":"\n

According to SHRM, each new hire your organization makes costs around $4,425 (Zippia<\/a>) and can range up to five figures. In recruitment costs. In lost time and revenue. Recruitment and hiring are expensive.<\/p>\n\n\n\n

And add the cost of hiring the wrong person<\/em><\/strong>. If you don\u2019t have enough candidates in the top of your funnel, you likely won\u2019t be getting the best talent possible at the end of your recruitment process.<\/p>\n\n\n\n

So, it makes sense that you\u2019re here \u2013 learning how to implement cost-effective recruitment strategies and save your organization time and money.<\/p>\n\n\n\n

Saving money in your recruitment and hiring processes isn\u2019t just about reducing agency spend. You also want to optimize your HR processes over the long-run without jeopardizing your employer brand and visibility.<\/p>\n\n\n\n

Focus your energy and resources on streamlining your recruitment, hiring and overall HR systems. And, get the top draft picks you deserve \u2013 faster, easier and more affordably.<\/p>\n\n\n\n

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The Problem with Headhunters<\/h2>\n\n\n\n

Headhunters help organizations find great talent by going beyond their traditional recruitment strategies. Instead of simply posting your open jobs on your website or job board and hoping you get applicants, headhunters focus on reaching out to passive candidates \u2013 often one at a time. This can be slow and expensive.<\/p>\n\n\n\n

The other problem inherent with headhunters (contingency and retainer recruitment agencies) is the way they make their money \u2013 a share of your candidate\u2019s first year salary. Effectively causing recruiters to cut corners with candidates\u2019 careers and vie for quick placements.<\/p>\n\n\n\n

We firmly believe that a candidate\u2019s career should never be about their recruiter\u2019s fee.<\/p>\n\n\n\n

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\"Problems<\/figure>\n\n\n\n
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Costs of headhunters<\/strong><\/h3>\n\n\n\n

Headhunters are expensive. Sure, they get you what you need \u2013 great candidates. But at what cost? Usually 20-25% but sometimes as high as 50% of that eventual hire\u2019s first year salary.<\/p>\n\n\n\n

And when you look at traditional alternatives like job boards and other ways of getting the word out about your open positions, you still must pay hundreds of dollars per ad or posting.<\/p>\n\n\n\n

Recruitment has gotten expensive. And even more so for top talent.<\/p>\n\n\n\n

But that\u2019s not all.<\/p>\n\n\n\n

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Adverse incentives<\/strong><\/h3>\n\n\n\n

In their most common business model (called a \u2018contingency model\u2019), headhunters get a cut of their placements\u2019 first-year salaries. So, they\u2019re rewarded more when they place candidates with high-paying salaries versus candidates with lower salaries or wages.<\/p>\n\n\n\n

Although your company\u2019s open positions need to be filled, headhunters are adversely incentivized to fill their higher paying jobs first and foremost. Despite your<\/em><\/strong> organization\u2019s recruitment and growth goals.<\/p>\n\n\n\n

Yes, there are alternatives to headhunters. And yes, you can get equal or even better results by pursuing a different strategy to hire top talent for your organization.<\/p>\n\n\n\n

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Streamline your recruitment & hiring processes<\/h2>\n\n\n\n

You can use your HR budget and strategic measures to reduce recruitment costs. It\u2019s been done. No need to divert huge amounts of resources. Many of the steps below don\u2019t require a ton of upfront investment. But, they do require focus and dedicated work.<\/p>\n\n\n\n

Your transition from reactive to proactive recruitment and hiring won\u2019t happen over night. But with time, structure and diligence, your recruiters and HR staff will shift from anxious and under pressure to confident and empowered.<\/p>\n\n\n\n

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\"4<\/figure>\n\n\n\n
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Step 1: Create & maintain a talent pool<\/strong><\/h3>\n\n\n\n

Just because you go with another candidate for an open position doesn\u2019t mean you have to sever ties with the others. If you were between a few rockstars at the end of a process, maintain those relationships. Add them to a database you can address when you inevitably have openings in the future. Here\u2019s to more growth!<\/p>\n\n\n\n

\u201cWe\u2019ll keep you in mind for future roles\u201d<\/em><\/strong> shouldn\u2019t be lip service after rejection. Mean it! If you have an applicant tracking system (ATS) in place, use it to your advantage and organize your talent pool.<\/p>\n\n\n\n

In addition to candidates to whom you didn\u2019t offer a job, consider your company\u2019s alumni. Similar to your current employees, they know your company like the back of their hand \u2013 even if your culture and team have changed since they left. Reach out when you have an opening. You may find you have a candidate that requires extremely little training and onboarding resources.<\/p>\n\n\n\n

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Step 2: Write job descriptions like works of art<\/strong><\/h3>\n\n\n\n

Job postings are 100x more important than most recruiters and HR professionals think they are. If your descriptions read like they\u2019re written by HR, chances are you have a boring job description.<\/p>\n\n\n\n

Candidates don\u2019t want to read a long bulleted list or suffer a slow death by bullet points. What they do want is to see themselves in the job, doing it, being successful, enjoying it, advancing from it, and thriving in their career with your company. Write your job descriptions in a way that paints a picture for your audience and you\u2019ll be sure to attract top performers.<\/p>\n\n\n\n

Using keywords in your job titles is important for search results. Put yourself in the shoes of your optimal candidate. What are they searching on Google to find your position or similar positions at your competitors? Using keywords is crucial for search engine optimization and appearing atop the search engine result pages when your candidates search for new jobs.<\/p>\n\n\n\n

But, don\u2019t get too fancy with titles. Job boards like Indeed.com don\u2019t like quirky names. If you do try something unusual to attract attention, it may backfire and push your job down in the search rankings where candidates likely won\u2019t see it. If your organization really encourages creative titles, allow your new hires to invent their own title after<\/em><\/strong> they\u2019ve been hired.<\/p>\n\n\n\n

In your requirements, don\u2019t be too specific so as to disqualify many of your candidates. Do your candidates really need a Masters degree for this position?<\/em><\/strong> Also, don\u2019t pick too many. Your candidates should understand the gist from the most important requirements.<\/p>\n\n\n\n

The body of your job posting should reflect your organization\u2019s culture, brand and mission. Recruitment and hiring aren\u2019t only about screening candidates to work for your organization: You want to put your best foot forward and make sure that candidates like your company and people for who you are<\/em><\/strong>. Providing a link to your company\u2019s mission and story is a great way to introduce yourself. Bonus points if it\u2019s in video form!<\/p>\n\n\n\n

You don\u2019t necessarily have to write a novel in your job description. But, provide enough detail to stoke a fire under candidates\u2019 butts. \u201cHeck yeah, this sounds awesome! I want to work here.\u201d<\/em><\/strong><\/p>\n\n\n\n

Whether your job descriptions live on your website or on a job board, these principles apply.<\/p>\n\n\n\n

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Step 3: Make applying easy<\/strong><\/h3>\n\n\n\n

Make it easy for your candidates to apply. This means dusting off the cob webs of your website\u2019s careers page and portal. In 2022 and beyond, Millennials and Gen Zers expect the utmost from your candidate experience \u2013 both the application and interview process.<\/p>\n\n\n\n

How do they want to be interacted with? Probably over text. <\/em><\/strong>How many questions do they prefer to answer in order to apply? Probably not a billion.<\/em><\/strong><\/p>\n\n\n\n

Reducing the barrier to apply \u2013 both mentally and physically \u2013 guarantees a fuller pipeline of candidates. Do not make application as difficult as possible just for prestige\u2019s purpose.<\/p>\n\n\n\n

In today\u2019s modern internet age, your career portal should be friendly, user-friendly and informative. Attract tech-forward talent by being tech-forward yourself.<\/p>\n\n\n\n

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Step 4: Stand up an analytics platform<\/strong><\/h3>\n\n\n\n

Following the above steps will put you a leg and arm ahead of your competition. But, add analytics to the equation? And, wow. Your organization will be that much stronger.<\/p>\n\n\n\n

\u201cWhat gets measured gets managed,<\/em><\/strong>\u201d Peter Drucker once said. And how true it is. Without data points to compare and measure success, you\u2019re merely shooting in the dark.<\/p>\n\n\n\n

Now, don\u2019t mistake this step as investing in a robust recruitment analytics platform that you\u2019ll never understand or use. Start with the basics. Right now, you should be tracking your recruitment pipeline on an Excel sheet at the very least. Over time, as you spend more time looking at the data, you\u2019ll determine what\u2019s important to your organization.<\/p>\n\n\n\n

Where do you lose the most talent in the hiring process? Or, where does it seem to bog down? Optimize that<\/em><\/strong> step and reduce friction for your candidates. Thus guaranteeing more top talent at the bottom of your funnel.<\/p>\n\n\n\n

Continue to look at the data over time to see where you can streamline communication with your candidates. Reduce any unnecessary touchpoints in order to move a candidate forward in the hiring process. Optimize ad spend and candidate flow from ads. The world of recruitment data is boundless.<\/p>\n\n\n\n

Again, what you measure, you\u2019ll manage. The best time to start tracking and analyzing your recruitment data was yesterday.<\/p>\n\n\n\n

By no means is this step-by-step guide exhaustive to solve all your recruitment and hiring problems. But, it\u2019s a great start to reduce today\u2019s obstacles and address tomorrow\u2019s. <\/p>\n\n\n\n

HR process optimization will save you time, money and resources. And, get you the candidates your team wants and deserves.<\/p>\n\n\n\n

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Get content like this in my inbox<\/strong><\/a><\/div>\n<\/div>\n\n\n\n
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Hire Field of Talent<\/h2>\n\n\n\n

Field of Talent has over 100 years of recruitment and hiring experience. We\u2019ve helped organizations like yours scale their recruitment processes alongside their growing companies. Putting in place smooth, streamlined HR processes to help even the most disorganized teams excel.<\/p>\n\n\n\n

Hire better and faster. More affordably and easily. Get the top draft picks you deserve.<\/p>\n\n\n\n

By speeding up your recruitment process and handling all candidate communications, Field of Talent can help you get 10x more candidates in your pipeline \u2013 a difference-maker when it comes to hiring.<\/p>\n\n\n\n

Furthermore, retention is the best way to save money in your recruitment and hiring processes. Field of Talent ensures you hire the best talent that\u2019s invested in your organization\u2019s growth.<\/p>\n\n\n\n

Are you ready to upgrade your organization? Get your free consultation with the Field of Talent team here<\/a>.<\/p>\n\n\n\n

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\"You<\/figure>\n\n\n\n
<\/div>\n\n\n\n

By dropping your expensive headhunters and focusing on building a streamlined recruitment pipeline internally, you can save tons of money and time. Sure, recruitment costs will persist with software investments and ad spend. But, in upgrades to your analytics, recruitment communications and employer brand, you\u2019ll start to see ROI in the form of better talent retained for longer.<\/p>\n","protected":false},"excerpt":{"rendered":"

Recruitment is expensive \u2013 $4,425 per new hire. You must spend your time and money wisely. 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