As a measure to cope with changes over the past year, businesses are forced to save costs by reducing the budget for different parts of their business operations. Besides companies that choose to optimize recruitment costs, others have completely abandoned their efforts to recruit talents.
You can approach this recruitment issue differently in 2021 by applying existing methods to your recruitment strategy. Let’s take a look at some effective recruiting practices that can help your recruitment process to be more cost-saving and effective.
The right timing for a job ad
If you still don’t have a specific plan for your job posting, then start now. Having a detailed and clear strategy for your job posting is one of the most important recruiting practices. Invest in content, images for your posts and plan the exact posting time for a week. This way, you won’t end up wasting time and efforts posting way too many but not achieving high engagement.
Candidates usually search for jobs on the first few days of the week, and the search rate tends to decrease in the middle of the week and on the weekends as well. However, for some particular industries such as transportation, hospitality, manufacturing and construction, the job search rate tends to increase on the weekends. With that said, if you are looking for new talents for the abovementioned industries, you will have to adjust your posting time accordingly to ensure a more economical and effective recruitment result.
Referral programs
Businesses should pay more attention to referral programs. Up to 85% of jobs are secured through networks. Referral programs are one of the most underestimated, yet effective recruiting practices.
Referral programs are becoming common especially at big corporations or companies since they help bring back highly qualified candidates and save money at the same time. For every 5 candidates being referred, 1 candidate will take the offer, which definitely saves recruiters a great deal of time. Also, this recruiting practice increases the employee commitment rate since internal referrals are mainly conducted by those who are currently employed and enjoy the company cultures. The chance for candidates to be exposed to your hiring positions through an acquaintance is 2 times higher than through your job posting. Also make sure to encourage your employees and co-workers to refer more by rewarding them with cash, gifts or vouchers.
>> Read more: Employer Branding for Recruiters
Remote hiring
Among effective recruiting practices, there’s one that we can apply after seeing how remote office and remote management have played out during COVID is remote hiring. The advantage of hiring through videos or other virtual mediums is very obvious: more candidate options, less dependence on location, and cost-effectiveness.
This remote recruiting practice still allows you to get to know your candidates through phone calls and interviews without having to interact with them physically. Candidates also enjoy remote recruitment. Up to 82,4% of candidates claim to find this method of recruitment comfortable. Actually, 61% of big businesses have applied this remote recruiting practice effectively.
>> Read more: How to keep your employees motivated during COVID-19
Automated Recruitment Process
The age of technology marks the great development of automation. Robots are already capable of assisting us in our daily tasks. Within the next 5 years, it is predicted that recruitment based on research and data analysis will also become a new trend. Having data analysis and recruitment process taken care of by technology, the recruitment process is becoming much quicker and lighter these days.
A cost-saving hiring process isn’t equal with cutting budgets, but it’s about having a smarter hiring plan, so invest your budget in the right place for more effective recruitment results!
If you are searching for help for a more effective hiring process, JobHopin is proud to be the first recruitment platform that successfully applies AI/ML (Artificial Intelligence/Machine Learning) into the talent recruitment process. Bunny AI from JobHopin can help employers:
- Speed up CV screening (50,000 CV/day)
- Analyze data, connect HR with the most suitable candidates
- Follow up on the application progress
- Chat with candidates through the chat feature
- Set up interviews
Visit JobHopin and get the best recruiting experience that’s tailored for your needs.
The JobHopin team