Most businesses are usually looking for ways to reduce costs. Recruitment is one area where you may be able to save money. Here are 3 tips to help you improve your company’s recruitment budget.
1. Does every role need a qualification?
Why is this important?
We’ve worked with many organisations that stipulate most roles require a degree. For many roles a degree does not equal success in the role. Qualifications will reduce the number of candidate who apply and increase the need for external recruiters.
How to make a change
Make sure you really understand your target audience. Do your job descriptions contain ‘must-haves’ like experience, education levels etc? Are these really critical? Review the experience of high-performers. What do they have in common?
54% of organisations are planning to increase their headcount in 2022*
* HR Industry Benchmark report 2022 ELMO/Australian HR Institute
2. Recruit interns or VA’s to help with the recruitment process
Why is support important?
One way to ease the burden of recruitment is to bring in interns or Virtual Assistants (VAs) to help with the process.
Interns can be a great source of cost-effective labour, and they’re often eager to learn as much as possible. VAs, on the other hand, are usually more experienced and can offer a wider range of skills for a greater financial investment.
When deciding whether to go with interns or VAs, consider the specific needs of your business and the roles you need filled. If you’re looking for people new to the workforce and happy to perform repetitive tasks, interns may be your best bet. If you need someone with recruitment experience to help manage the process, a VA may be a better choice.
How to make a change
There are a range of options to find the right intern or VA for your organisation. For interns, start with ECA Internships, Grad Connection or LinkedIn.
For Virtual Assistants (VA) you can try UpWork, fiverr or LinkedIn. There is a huge choice and lots of help on YouTube to help you narrow down the perfect candidate.
We’ve listed 3 ways to get started in this article. We’ve also created a free template that helps you attract more candidates in your next recruitment campaign. Download it now and start putting the tips into practice!
$23,860*
On average it costs $23,860 to hire one employee
* HR Industry Benchmark report 2022 ELMO/Australian HR Institute
3. Use technology to aid in the recruitment process
Why is technology important?
Managing the recruitment process has moved from paper to spreadsheets to ATS (Applicant Tracking Systems) to AI. Which one are you using? Some organisations we’ve worked with have had full-time members of staff managing the recruitment process on spreadsheets. This isn’t a great use of resource as it can be deployed elsewhere to create more value for the organisation.
How to make a change
An ATS can help you to keep track of all the applications you receive, as well as manage your talent pipeline and communication with candidates.
Other ways to streamline your recruitment process include:
- Using an online job board
- Picking assessment tools to assess for behaviour
- Automating key steps in the process
- Using an HR management system
Only 56% of organisations have fully implemented recruiting software*
* HR Industry Benchmark report 2022 ELMO/Australian HR Institute
Reducing your recruitment costs can be as simple as evaluating your process, recruiting interns or Virtual Assistants and using technology to aid in the process.
To help get you started, we’ve created a free template that outlines the basic steps for attracting more candidates. Download it now and start putting these tips into practice! By taking these steps, you can make sure that your recruitment process is as cost efficient and effective as possible.
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