How to Leverage Your 2018 Recruitment Budget

Budget
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As a new year begins, finding new ways to fine tune our recruitment strategies and make the most out of the resources at hand is a major concern. And when it comes to putting your recruitment resources to good use, allocating them strategically is essential to reach your hiring goals.

This might seem a tricky thing to do, but with these simple yet effective practices, your company will not only reduce its recruitment costs, but they will ultimately help you make the most out of your 2018 recruitment budget:

Enhance Your Job Postings through Job Branding

Many companies spend great amounts of money to improve their employer brand in order to look more appealing to prospect hires and to attract the best talent. But the truth is, when it comes to your company’s image, adjusting your job postings might just do the trick. Not only is it way cheaper and less time-consuming to rewrite your job ads, but it’s also much more efficient. After all, your posting is the first point of contact between you and your candidates and so it is your best shot at making a meaningful first impression.

So before considering those pricy employer branding campaigns, opt for job branding strategies as a way to enhance your postings. The idea is to craft detailed and candidate-focused job postings that emphasize what you offer potential employees rather than what you expect from them, that way, you will be able to put your best self forward and set yourself apart from other companies.

Cultivate Your Existing Candidate Pool

In an intent to broaden their talent pool and to get more applications, many recruiters spend a lot of money and effort on job boards and career fairs. And while this might be a great way to network, it’s not the one that generates the most results in terms of actual qualified candidates.

Instead of wasting your time and resources on reaching hundreds of new prospects (who may turn out to be a bad fit for the job at hand), start dealing with the applicants that have already shown interest in being part of your team. Learn how to combine the strengths of your ATS with those of a CRM to establish and nurture a professional relationship with them. This will give you a more accurate idea of their skills and will help you build a top-quality talent pool. It will also be a way of setting a strong connection with potential hires whether it is for current openings or future ones.

Take Advantage of Recruitment Technology

In fact, introducing technology to your recruitment process can be one of the most cost-effective strategies. Recruitment technology will not only help you find, sort, and manage candidates more efficiently, but it will speed your company’s application, hiring, and onboarding process while saving you valuable resources.
A great way to take advantage of recruitment technology and to simplify your hiring practices is using an ATS. Paired with a trained recruitment eye, an ATS software can help you identify and filter those applications most likely to match the ideal profile you’re looking for. As a result, the use of ATS’s will boost your productivity, making you put less effort into time-consuming tasks such as manually compiling and organizing data, and enabling you to focus on what matters the most, the candidate itself.

There are many ways to really put your budget to work, no matter how small or big it might be. The key lies on allocating it to those strategies that will help you provide potential candidates with a positive experience and that will allow you to engage their professional interest in your company as their future working place. After all, in a candidate-focused market, all efforts should go to effectively connecting and engaging with the future fuel of your company’s success: your workforce.

Nany Indriago / NEUVOO
Content Marketing Strategist