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3 Effective Strategies to Reduce Your Recruitment Costs

January 3rd, 2019

Hiring costs can be a significant consideration when seeking new talent. And when turnover is high, the pressure to find better candidates without spending more money increases as well.

Fortunately, Minnesota companies can reduce their recruitment costs without compromising on candidates. Here are three effective strategies to do just that.

  1. Plan ahead

A well-planned recruiting process allows hiring managers to spot and avoid mistakes that would otherwise increase hiring costs. It gives companies the chance to identify ways to reduce recruitment expenses, as well.

Before seeking a new hire, plan the entire process, from posting the job opening to the new hire’s first few weeks on the job. How long do you plan to spend on each step of the process? Who will take on certain tasks, and when? How will you communicate with candidates at each step?

Don’t hesitate to talk to your recruiter about planning, as well. Staffing firms specialize in knowing how to plan and execute an efficient hiring process.

  1. Build a strong employment brand

Reduce the costs of building a strong candidate pool by making your company an attractive place to work – even when you’re not hiring.

Building a strong employment brand underscores the unique benefits of working with your organization and the people who thrive within it. It highlights the best parts of your company’s culture and approach to work. It even helps boost engagement among the staff who are already on your team.

Best of all, building a strong employment brand can be done for very little money. By sharing successes and employee stories on social media, your company attracts candidates who will thrive in the environment you’re building. The result? More engaged candidates without significant costs.

  1. Work with a recruiter

When it’s time to hire someone new, make your first phone call to a staffing firm that specializes in placing similar candidates within your industry.

Your recruiter is a wellspring of information on your industry, the market, and available talent. Staffing firms can also help you examine your current hiring processes, find ways to cut costs, and recommend methods for improving the quality of the overall process.

 

At THE RIGHT STAFF, LLC, we help Minnesota companies reduce their hiring costs without compromising on candidate quality. Contact us today to learn more.

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