How to reduce Hiring cost using simple techniques?

1. Calculate your Hiring Cost:

Do a proper calculation of your hiring costs, dont forget internal hiring manager’s time, advertising, Travel, assesment/ Testing and Third Party recruitment services.

2. Analyze: 

For any requirements, before calling your recruitment agency or advertising on newspaper or job boards, consider return over investment, I am sure there are 100’s of free and cost effective and efficient ways to attract quality talent pool, specially using internal referencing, social networking, online advertising , and don’t forget Zyoin.com

3. Share Requirements Exclusively:

Sharing requirement exclusively or in bulk to your vendors,  can be used as medium to negotiate rates with them, thus helping you to in bringing down your hiring cost.

4.  Streamline your process:

Verify your recruiment process, evaluate each of them versus cost, make necessary changes if required. Consider having your own website, there  are lot of development happening around Application Trackng Systems and Recruitment Software for powering your website. Involve your IT department as well.

5. Use Online Advertising:

Online recruitment advertising can offer lower costs and very effective method to big number of job seekers (both active and passive ones). Look at necessary Free Niche and Generic Job boards and Social Networking platforms.

6. Plan:

The recession would not last forever, and talent shortages would never go away, make sure you have a very robust recruitment strategy and effective recruitment processes in place, so that you have access to the best talent when the right time comes.

Regards,

Anuj, Director- Recruitments, Zyoin.com