Easy Ways to Make Finding Talent More Cost-Effective
By: Catherine Conlan
Finding the right candidate costs money. But it’s not the job advertisements or even the competitive compensation that really hit your bottom line. It’s an inefficient recruiting process -- sorting through piles of resumes, qualifying candidates, checking back with them – that eats up time, and time is money.
These recruiting solutions and processes can help make finding talent more cost-effective.
Be Clear about What You Want
Some employers take a fisherman’s approach to recruiting -- they cast a wide net with an all-encompassing job ad in the hopes of finding the best candidate out of a larger candidate pool. While that may seem like a good idea, it will only set you up for more work.
Vague job descriptions are likely to attract less qualified candidates. The result is your having to wade through a lot of resumes that don’t have what you’re looking for. A well-written job description provides a clear picture of what it’s like to work at your company. This enables applicants to self-select -- and self-eliminate.
“Lead the job description with a compelling story of your organization: What are its origins, hopes and dreams, how is the culture evolving, why do people join the company and stay, and so on,” says Steve Tennessen, a director at the recruiting firm TRANSEARCH International in Chicago.
Then describe a day in the life of this role that reflects your employer brand, as well as its goals and objectives. “Convey excitement about what you do and in hiring the right people; confidence and conviction will attract the same sort of people,” Tennessen says.
“The best low-cost recruiting strategy is to encourage all employees at a company to bring the recruiting team great leads,” says Steve Benson, founder and CEO of San Francisco-based Badger Maps, a sales app. Referral bonuses or other incentives can help to encourage these connections.
Next, use social recruiting to spread the word about your job. Whether you list job openings on your website or use a job board, share the link on your company’s social media channels as part of your social media strategy.
Don’t forget to share your job postings with employees; invite workers to share these links on their own social networks. Encourage workers to participate in online industry groups where they can share what it’s like to work at your company and to post their enthusiasm on your company’s social pages.
Leverage the Power of Recruiting Technology
“Companies spend a lot of time qualifying or gauging interest from candidates who might be a good fit, while they should be focused on courting the candidates they know are a good fit,” says Javid Muhammedali, Vice President of Product at Monster.
“You want to make sure you’re having the right conversations with the right people,” he says. That will allow you to effectively focus on engaging the right candidates.
Recruiting technologies such as semantic search help identify interested and qualified candidates early on in the recruiting process. When combined with the candidate’s behavioral online activity, this technology can be a powerful way to identify the best match for opportunities at your company.
Beyond saving time and money, there’s a surprising additional benefit. Rather than dehumanizing the process, technology can help put the “human” back in human resources, Muhammedali says. “By getting tech tools to do more of the work of qualifying resumes for experience and fit, recruiters can spend more time with the actual conversations and getting to know candidates.”