Recruiting on a Tight Budget

If you’re a small scale organisation or a start-up company, you would already be aware of the challenges faced in attracting the right kind of talent to your organisation. You are in a situation where you are not only competing with similar organisations but also against large-scale established organisations which have significant resources at their disposal. However, the situation is not all that grim for you, as there are a couple of low-cost strategies which you can use to get the most of your recruitment initiatives.

1. Get active on social media.

Social media platforms are not just there for you to establish a connection with your relatives and friends. They can, in fact, prove to be quite helpful to promote professional relationships. Invest some time to keep your social media accounts such as Twitter, LinkedIn, and other such sites updated with your company information, job postings, and photographs. Potential candidates are 100% likely to read about your company on Google before applying to it. So it is important that you put up your best show in the online zone. You should also encourage existing employees to post positive comments about their experiences. This is an authentic means of promoting your organisation in the right perspective, and it costs nothing.

Ensure that your social network profiles point to your corporate careers site. You must consider your recruitment initiatives as a  form of marketing campaigns and thereby optimise your sales to augment your conversion rates. You should also have blogs which are usually a customer-driven website feature. It can be used to convey to people what it feels like to work for your organisation.

2. Focus on attracting quality candidates.

You must try and focus your efforts top attract just the right kind of candidates instead of advertising every open position in your organisation. If you do this, you will save yourself a lot of your time from sorting unwanted applications and refraining unqualified individuals from applying for such positions. You will also be able to focus much better on getting quality candidates, as you won’t have to invest your time and attention sifting through hundreds of unwanted CVs. If you adopt this targeted and personalised mindset, it will help you to make faster hiring decisions.

3. Enlist the help recruitment tools.

One of the biggest advantages that you have these days is that you do not have to do all the stuff hands on anymore. Enlist the help of online recruitment tools to find promising candidates that fit the requirement well. These tools incorporate data processing and analytics functions which may not otherwise be accessible to you.

4. Offer above benchmark package.

Many candidates these days are willing to compromise a fat salary if they find a well-rounded and balanced working environment. Even if you may not be offering the highest packages, but if you offer other perks such as flexible working arrangements, extra leave, bonus, reward recognition points, you can still make your company seem appealing and pleasant. If you invest wisely in providing these benefits, it may offset your other costs, as it will help you in retaining top talent without having to bother to pay exceedingly high salaries.

5. Interview correctly.

The outcome of your interviewing process will have a significant impact on your workforce composition. Don’t  waste resources by onboarding and training the wrong candidate. Train your managers so that they know what to look out for when interviewing candidates.You should also create a good impression and convince the candidates that your workplace is a place where they would want to spend their time.

6. Seek employee referrals.

Your existing employees can offer you a great boost regarding meeting your recruitment goals. A loyal ‘promoter’ can be quite convincing. Your existing employees have a good idea regarding what it takes to gain success with your organisation, as well as the skills, personality traits, and the cultural profile of their acquaintances and friends. An employee referral can save you the expense of advertising, hosting multiple interviews, and communicating with applicants. Offer them a lucrative ‘refer a friend’ incentive for referring successful candidates who fit well into the company culture.

If your recruitment budget is closer to four figures than five, you need act smart.  Use low-cost and high-efficiency strategies to seek and hire employees without spending your resources on unnecessary extras. The money that you save here will significantly impact your bottom line as well as the performance of your carefully selected new hires for your team.