In good times, trimming operational costs is an ongoing goal. In tough times, it’s a necessity. Regardless, recruiting occurs at all times, good and bad. Growth increases personnel numbers in good times, and opportunistic or replacement hiring occurs when budgets tighten. By using creative recruiting strategies in synergy with the latest technology developments, you can reduce recruiting costs while achieving exceptional results.
Agencies can reduce recruiting expenses with direct cost savings. There may be indirect cost saving opportunities as well, but there are three broad areas in which savings and benefits are almost always possible: sourcing, assessments, and green recruiting.
Sourcing costs can be reduced by relying less on search firms, using metrics or analytics based advertising, and retooling the way your agency examines internal and external talent pools. Internal mobility programs, referrals, candidate pipelines, and government career websites are effective, cost saving alternatives to using search firms to recruit. Moving all job positions to your career website and using metrics and analysis will make your advertising less costly and more efficient. Redeploying from internal talent pools reduces sourcing costs and time while also increasing retention and employee satisfaction. Candidate relationship management lowers sourcing costs by marketing new job opportunities to external talent that was sourced in the past.
Utilizing assessments during the recruitment process will allow your agency to achieve better productivity, superior candidate performance, and lower turnover. Assessments can also save recruiting and hiring managers’ time by allowing them to focus on a short list of qualified candidates. Candidates hired this way will prove to be a better fit and will stay with your agency longer and produce higher quality work.
Going green and automating your recruitment process through technology is another great way to reduce costs. Not only does a paperless process save costs but, it also shows candidates that your agency is committed to sustainability.
Learn more about creative recruiting strategies that reduce costs in this datasheet, also check out how Oracle’s Taleo Cloud Service can fulfill all your agency’s recruiting needs.
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