Four Ways to Maximize Your Hiring Budget in 2014

Running a business is often about “doing more with less,” and in a tough hiring environment, it falls on the hiring managers to find the best talent they can with limited resources.  Time and effort are finite resources, and so is the hiring budget.

In the coming year, how can your organization maximize the value of each dollar it spends on finding new talent?  Consider the following four options:

  • Onboard new people efficiently.  The first ninety days are the most crucial for a new hire, who must learn how to fit in with a new team and a new company culture while also learning the technical elements of performing his or her new job.  You can reduce turnover while improving productivity and morale by focusing on efficient and focused onboarding.  Communicate regularly with new hires, give them the resources they need to tackle the learning curve, and consider creating a mentoring program that connects your new hires with established members of the team.
  • Consider temporary employees.  Temporary employees help your organization get tasks done, whether they are one-time projects like implementing a new software platform or recurring jobs like serving seasonal customers.  Because most temporary employees technically “work” for your staffing partner, you save on benefits and other costs while still getting the help you need for a short-term or long-term arrangement.  Temporary employees also offer a “trial period” during which both you and the employee can decide if a long-term hire will work.
  • Train the people you have.  When an employee leaves, a company often faces a “skills gap” left behind by the loss of an experienced member of the team.  If the skills gap is a discrete one and the workload can be adequately handled by the people left, training your current team to develop the needed skills may be more cost-effective than bringing a new person on board.
  • Work with a recruiter.  Your recruiter can help you reduce hiring costs and reduce the time to hire by accessing a deeper pool of talent, prescreening candidates, and providing a pool of applicants whose skills and work ethic are the right fit for your company’s needs and culture.

At THE RIGHT STAFF, LLC, our experienced recruiters will help you “do more with less” with your hiring in 2014.  Contact us today to learn more.

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