News And Advice

Advice, insights and news from our team.

Can You Cut Recruiting Costs and Still Find Top Talent? YES!

According to a recent study by the Society for Human Resource Management (SHRM), the average cost-per-hire is a little over $4,000.00. That’s a lot of money for one hire, and it adds up even faster when a company is looking to hire multiple people. So, how can you cut some of your recruiting costs without sacrificing the quality of the talent you’re bringing in? Here’s what to do:

Recruit using social media.

Most companies are now recruiting, at least in part, through social media. If you’re not doing the same, you’re falling behind. It can get expensive to post openings on multiple job boards. Posting on social media channels, on the other hand, is a low-cost way to get your opening out to thousands upon thousands of potential job seekers. And since social media makes it easy to showcase your company culture and values, you have a good chance of attracting top-tier talent that already believes in your mission.

Use digital interviewing methods.

It costs a lot to fly candidates in from around the country for in-person interviews. If you’re recruiting on that scale, it’s worth considering changing your approach to digital video interviews — that’s especially important during the COVID-19 pandemic. Not only is it safer, but it’s also much cheaper. And you can screen candidates at almost any time of the day, from anywhere in the world.

Use referrals from current employees to your advantage.

Have you ever considered that using referrals from your existing staff saves you the cost of outgoing recruiting efforts? Promoting from within is another strategy that lets you leverage your current talent to your advantage. You can even incentivize existing staff to referral the best people they know — offer a bonus or extra days off for a successful referral, for example. A hidden benefit of using employee referrals is that it boosts company culture. Your employees feel heard and respected when you value their opinion on who might be a great fit for the company.

Partner with a staffing firm.

Getting in touch with a staffing firm is another great way to save on recruiting costs. It takes the legwork out of the equation for you and saves you the trouble of posting openings, screening candidates, setting up interviews, and choosing final candidates. A firm can match your needs with the exact candidate that fits the bill — it’s extremely fast and even more cost-effective.

Want help with your staffing needs? Contact Axiom Staffing Group right away.