Do you see business recruitment as a minefield or a goldmine?
It’s an expensive process at the best of times. Some studies say it costs around $7,645 to hire a new employee. Worse still, if you’re replacing a current employee, research suggests companies have the additional cost of up to 60% of that employee’s salary.
This is why it’s so important to get business recruiting right. Otherwise, you’re wasting that cost on an employee that isn’t suitable for your company.
Fear not though. You can use our five incredible business recruiting strategies to make sure you get the best bang for your buck.
1. Optimize Your Job Adverts
There’s a reason recruitment agencies get paid a small fortune to do what they do and part of that is writing job adverts.
First, you need to make sure your job adverts are on the right platforms to attract the candidates you want. Depending on your business, this could be LinkedIn, Glassdoor, Indeed, or something more niche. Then you need to make sure you use the right language to attract these candidates. You need to express your company culture so that candidates can recognize themselves in your advert.
2. Talent Pools
Think about the last time you hired someone. We bet there were a couple of candidates who got to the final interview stages. Maybe it was a real headache to pick between them, but you didn’t need to hire both.
What happened to their resume?
Chances are it disappeared. Either in the bin or deleted when you removed the job advert.
Instead of that, keep hold of the contact information of great previous candidates and build a talent pool. When new opportunities arise, you can search through your talent pool and see if there are any candidates. The best part is that these candidates have already shown an interest in working at your company.
3. Employee Referral Program
Your employees are your brand ambassadors. If they like where they work, chances are they’ll be telling their friends about it already.
You can further incentivize this by creating an employee referral program. There are some big perks to this recruitment strategy.
One of the main perks is that your candidates are preselected. Your employees won’t want to recommend someone who could reflect poorly on them or won’t fit in well.
4. Focus on Internal Mobility
So many companies jump straight to external hiring when a new role crops up. The reality is, you have a huge amount of talented employees right under your nose.
It will also help with your employee churn. 94% of employees say they’d stay at a company longer if said company if they invested more into their progression in their current role.
5. Measure Everything
You should measure everything in business and that includes recruitment. You should analyze and review your hiring process just as you analyze and review your marketing strategies. Popular recruitment metrics include:
- Time to hire
- Source of hire
- Time to fill
- First-year attrition
Master Your Business Recruiting
These business recruiting strategies will help you master recruitment, so you get the very best candidates who stick around and help grow your company.
If you’re after more business advice, we cover everything from growth to HR on our blog, so take a look.