Finding an ideal candidate in today’s competitive market is a more daunting task than you can ever think of! cost effective recruitment strategies are many and what will be effective is hard to decide. Alternative recruitment methods, like partnering with recruitment agencies have been proven beneficial. However, there is still a long way to go.
For small enterprises, getting ahead in a competitive market, particularly in regions like the UAE, is hard if they spend days and days interviewing and spending money on the process. Businesses are always on the lookout for efficient and cost-effective recruitment strategies so they can hire the best candidate for the vacant position.
With the pandemic impacts, even big and established companies are looking for recruitment recommendations and alternative recruitment methods to save money on the process. Cost-cutting is one of the major goals of companies. Many companies have even stopped hiring staff and slashed their budgets of hiring to reduce expenses after the pandemic disaster.
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Cost Effective Recruitment Strategies
Small Enterprises in this era must compete in these tough competition scenarios while saving money. However, saving money on recruitment does not mean compromising on hiring talent. The latest recruitment strategies such as the use of AI tools for screening, are also proven to be cost effective recruitment strategies.
Here we have gathered a list of the latest recruitment strategies that have proven adequate and cost-effective. Let’s have a look!
Comprehensive Job Posts:
The first cost-effective recruitment strategy on our list that should be followed is to post comprehensive job postings. On many platforms, you can post details in different sections. Make sure it is not too lengthy or small; the words that describe the job’s nature and the company’s policy are enough. You can also post the perks and incentives as well in the description.
When the job posting is comprehensive, only interested people with the mentioned qualifications, experience, and skills will apply. It helps in candidate screening. Likewise, with pay range, perks, and incentives, there will be less time and money spent on negotiations.
Advertise at the Right Place:
Once you have compiled a comprehensive job description, the next step is to advertise it. Advertising can be very expensive and one of the cost effective recruitment strategies is to post the ad only in the right places. Social media platforms are ideal for posting advertisements as they cost little compared to traditional ways and target candidates are most likely to see it.
You can use the data tools to see which recruitment platform is more effective than others. It helps to attract relevant candidates quickly and efficiently. According to a report, over 30% of the cost can be saved on every application.
Platforms like LinkedIn and Upwork are great platforms to find the ideal candidate. On Upwork, you can find candidates for project-based jobs, while on LinkedIn, you can access active and passive talent ideal for the job. Recruitment agencies like RFS HR Consultancy have strong networks on platforms like LinkedIn, so the job ad gets more views, and the cost is reduced massively.
Approach Past Candidates:
Organizations never choose the first candidate they interview; the decision to hire the best one is quite a difficult decision. It is important to keep the list of shortlisted candidates aside for times. Hiring a candidate who has checked all your boxes in a previous interview, but you have chosen the other for any reason—it’s time to approach them. Approaching past candidates is an effective part of the recruitment strategy plan and it is also one of the most cost-effective recruitment strategies.
Someone might have been lacking in the past, but over time there are chances they have grown up to be much better candidates. The hiring manager can mark these candidates during interviews, and it can help in the future. Candidates who have applied before to your firm mean they were interested in your company and attracting them again to the company can be easy.
Define Company’s Culture:
A company should be transparent and authentic while posting job ads on any platform. Candidates are always suspicious when the company’s image or job posting is vague or shady. Therefore, among the top recruitment recommendations, one is to be transparent and clear about the job.
If your company is tech-savvy, trendy, and inclusive, make it known to the candidates by writing a few lines in the job description. You can explain how the company utilizes technology and stays up-to-date with the trends in the market.
You can write down the competitive benefits and flexibility in job timings or mention things like the flexibility of hybrid and remote options. If there are any unique perks that your company is offering, mention them in the job ad. For instance, few companies offer medical benefits, and few do not. If you are among the ones who do, include it in the job ad.
Likewise, if your company has high professional values and prioritizes the professional atmosphere within the company, it should be reflected in your ad. These tactics are considered cost effective recruitment strategies, as the candidates who match the criteria will apply only. The strategy also helps in the retention of the employee. Sometimes, the candidates are hired at later they quit as the environment does not suit them. It costs time, energy, and money as well.
Consider Referrals:
One of the ideal cost-effective recruitment approaches is to consider referrals. Rather than starting from the first step i.e. job posting, why not ask the colleagues, and teams already working in the company? You can ask trusted employees or friends and people working in the same network. When you ask a hardworking and competent colleague or employee to refer, they will only refer to the one who can be a good fit. It is one of the great Cost Effective Recruitment Strategies as you save the entire hiring cost.
The current employees and people working in the same industry know the company’s environment and culture, they would know whether the person they are referring to will be a good fit or not.
The referral process can be made fun and exciting if you offer some reward or prize to the referring employees. One of the major benefits of hiring by recommendation is that they will adjust to the team fast, and you will not have to conduct the background check.
Partner with Recruitment Agency:
Partnering with recruitment agencies seems costly at first look! However, it is quite the opposite. Hiring a recruitment agency like RFS HR means Cost Effective Recruitment Strategies save costs in the short and long term. Here are a few reasons why you should hire RFS HR as your recruitment partner:
Specialized Team:
The best recruitment agency in the UAE has a competent team of recruiters with specialized skills in hiring in various industries. Therefore, they know the industry’s work culture and environment and only screen the ideal candidates for interviews.
Wide Talent Pool:
The recruitment firm has a wide talent pool from all over the world. So, many times there is no need for a job hiring ad, they can shortlist and call the best candidates for an interview. It saves time and money as well.
Transparency:
RFS HR believes in transparency, confidentiality, and authenticity. So you can partner with us and access the best candidates from across the world.
Summing up:
There is no doubt that cost effective recruitment strategies are a need of time. However, a company’s success can be compromised if effective recruitment recommendations or plans are not followed. RFS HR Consultancy is a blessing in disguise for those who are looking for ways to cut costs and time spent on hiring while seeking the best.
