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The average cost of a new
Create referral schemes
Whether your business is financially constrained or not, employee referral schemes can help with your recruitment processes. It works on the concept of direct marketing and word-of-mouth recommendations. Your employees, in this case, become the mouthpiece of the company’s hiring process. They can recommend qualified people to take up available positions within the company. This certainly takes away the need for a recruitment agency and the associated fees that come with them. The advantage of employee referral schemes is that the existing staff become credible ambassadors for your organization.The cost of hiring new staff is quite high, and for many businesses, it makes economic sense to try to reduce it.Click To Tweet
Your staff automatically boosts the company’s reputation when they take on the responsibility of referring qualified people to join the establishment. According to labor experts, there is a psychological element to employee referral schemes. This is because referrals assume something good must be happening in your company to motivate staff to recommend them. As a business, you are also responsible for carefully assessing your employees’ referrals. This is done to ensure they are good fits for your company’s culture.
Rely on a recruitment agency that charges a flat fee
Many recruitment agencies make money by hiking traditional placement costs. This is usually 20% of every new
In that case, you may want to focus on hiring agencies with charges that don’t burn a hole in your company’s purse. Aside from the two types of agencies discussed here, there is one more worth considering. Recruiting as a Service (RaaS) option charges for billable hours only. The absence of a standard fee or a cut of the new
Optimize your company career portal
According to 2019 labor reports, more companies optimized career portals on their websites. The objective was to have the target audience apply directly on company platforms. By so doing, prospective applicants have the opportunity to browse through pages to learn more about the company. Indeed, this cuts out the middleman and the cost involved. Another reason career portal optimization has become popular is that it allows businesses to control their internal content.