Recruiting on a Tight Budget

Like most organizations, whether large or small, you have likely had to streamline budgets in all areas of the business, including recruiting. If you have to fill open positions with a limited budget, you need to be both highly targeted and creative in your recruitment strategy. The approach you take will determine how much you spend, if you find quality candidates and if you achieve the best ROI for your hiring budget. Below are some suggestions on cost-effective approaches to maximize the value of your recruiting dollar without hindering your ability to attract top talent to your organization.

Develop a recruiting plan. First and foremost, define the key areas of your search. This should include the position(s), budget and timeline. Once you have determined the core competencies of the candidate(s) you are looking to hire, ensure that all principles involved in the recruiting process (HR, executives, direct reports) reach a mutual consensus. From there develop a detailed job description that outlines the exact requirements of the position.

Select job boards that offer targeted advertising. Targeted advertising will not only boost your qualified responses but also your return on investment. Before you choose an online job board, research which ones offer advertising targeted by demographic, geographic or interest level; where your ad is presented to relevant seekers on multiple sites. This will attract more qualified candidates. If you are embarking on a diversity hiring strategy, job boards like America’s Job Exchange can help target a diverse pool of candidates and achieve your compliance goals at the same time.

Choose an aggregator. The benefits of this process are twofold – your job posting can be “scraped” from your website and then distributed via a feed to multiple job boards. This process will not only allow you to post to multiple, targeted sites but also saves you valuable time in your recruiting efforts.

Capitalize on social media. Use this free recruiting tool to your advantage. Social media platforms like Facebook, Twitter and LinkedIn are the new referral system that allows you to focus on networking and hiring. These are terrific sites that can connect you with job candidates and post jobs in a strategic way to line up qualified talent to your search.

Participate in recruiting and industry events. Carefully review events and assess their effectiveness to your recruiting strategy. Career fairs, industry trade shows, associations and the like can prove to be an effective source of recruiting and company branding – both of which are crucial to building your presence for your short-term hiring goals and future objectives.

Spread word-of-mouth. Chances are that you and other members of your organization have friends in their own personal network that may make excellent candidates for your open positions. Along with your social media network, tap into your employee network; one that can instantly connect you with qualified candidates. Promoting an employee referral program is valuable here.

Use your own website. This is a great way to sell the mission and vision of your company and attract potential employees. Your website is the most fertile ground to attract interested, qualified candidates. Site visitors are interested in your brand and this traffic should be capitalized on for all areas of your business – form sales, your services, corporate branding to highlighting open job opportunities.

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