How to Recruit the Right Candidates on a Tight Budget

recruit-on-budget

If you’re running a small organization or a startup firm, then you probably already know how challenging it can be to attract talent to your company. After all, you’re competing not just against other businesses in the same situation, but also against large and established entities with significant resources at their disposal.

 

Luckily, there are a number of low-cost strategies you can use to get the most out of your recruitment efforts.

Be active on social media

Social networks provide more than just platforms for connecting with friends and relatives. They’re also useful in fostering professional relationships. Take some time to keep your accounts on LinkedIn, Twitter and other sites updated with company information, photos and job postings. You can be certain that potential hires will be Googling your company before applying, so it pays to put your best foot forward in the online arena. Encourage your employees to post positive comments about their experiences, which is an authentic way of promoting your organization that costs virtually nothing.

 

Also, make sure your social profiles point to your corporate careers site. Treat your recruitment endeavors like a form of marketing and optimize your sales funnel to increase conversions. You may wish to start a blog, which is usually a customer-focused website feature but can also be used to show people what it’s like to work for your company.

Concentrate on quality candidates

Instead of advertising every open position through dozens of job boards, try focusing on appealing to just a select few candidates. This approach cuts down on the time it takes to sort through applications and prevents many unqualified individuals from applying. At the same time, you’ll focus more closely on quality candidates because you won’t have to divide your time and attention between dozens or hundreds of resumes. This personalized mindset should allow you to make quicker hiring decisions.

Take advantage of recruiting tools

In the internet age, you don’t have to do everything by hand anymore. Online recruitment tools can help you find promising job seekers who are likely to be a good match for your needs. They incorporate data processing and analytics functions that may not be accessible to you in any other practical way. Of course, you’ll want to add your own perspective to whatever the software tells you, but the reports generated by recruiting tools are very valuable.

Offer a well-rounded benefits package

A growing number of employees, particularly millennials, are willing to moderate their salary expectations in favor of a well-rounded, balanced work environment. By offering such perks as flexible schedules, rewards cards for business expenses, health insurance and retirement packages, you can make your company seem compelling and pleasant, even if you don’t pay the highest rates around. Wise investments in employee benefits may offset costs because they’ll allow you to retain top talent without having to issue exorbitantly high paychecks.

Conduct interviews courteously and professionally

The results of the interviewing process will have a continuing impact on your workforce composition. It’s crucial to do interviewing right so you don’t waste resources by onboarding and training employees who don’t work out. Train your interviewers properly so they know exactly what to look for and ask when interviewing candidates.

 

Establish a comfortable setting for job candidates with refreshments and ample seating. You want to make a good impression and convince people that your facility is a place they’d like to spend their time.

Solicit employee referrals

There’s nothing quite as convincing as stories coming straight from the horse’s mouth, so your existing employees can provide an inestimable boost in meeting your recruitment goals. They already know what it takes to achieve success within your company and they probably have a good idea of which of their friends and acquaintances have the skills, personality and drive to contribute meaningfully. You can spare yourself the expenses of advertising, communicating with applicants and hosting multiple interviews by incentivizing your existing staff to recommend people who will fit your culture.

 

If your recruitment budget is closer to four figures than five, you can act intelligently to conserve your funds. Deploy low-cost, high-efficiency tactics to find and hire employees without splurging on unnecessary frivolities. The money you save will impact your bottom-line as will the performance of your carefully chosen new team members.

 

About the Author:

Beth Kotz is a contributing writer for Credit.com. She has also been featured as a writer and editor for numerous blogs in the energy, entertainment and home verticals.