With a new year around the corner, now is often a time of reflection for businesses everywhere. Marketing efforts, internal programs and more are all reexamined as 2019’s budgets and goals enter the picture. For those hoping to pick up new team members in the new year, however, making room for the time and cost of hiring can be a doozy.
Determining positions needed, creating and posting job listings, reviewing candidates, interviewing, it’s not hard to blow it all before a potential candidate can step in the door. Knowing this, companies often slash and burn in other areas to make up for the expense. After all, there’s not much you can do about it, right?
Wrong. Truth is you can hire without having to sell the farm. A hiring budget is, after all, a budget. And like every budget, there’s plenty of ways to do more with your dollar.
For those looking to grow in 2019, consider these ways of maximizing your hiring budget.
It sounds crazy, but you can fill a job without ever posting an opening. There’s an entire group of people who know your brand better than anyone and have networks of friends and acquaintances skilled in various fields, looking for jobs. What’s better? They’re your employees.
Spreading the word through the company can deliver qualified candidates who are already judged to be great fits. The only cost to you is conducting interviews.
Shorten Your Time-to-Fill
Time wasted is money wasted. Rather than waiting for the perfect candidate to find you, take to the offensive and start reaching out to them. Whether it’s reaching out on social media to people advertising themselves as actively searching or reviewing previous applicants, spending less time getting to the interview stages means more time and money saved.
Let Tech Be Your Friend
Like how cars ended the need for dedicating a generation or two of your family to move a few states over, AI is revolutionizing the way hiring is conducted. Candidates are sourced, qualified, even screened for personality fit while you focus on other priorities. Specified channels also allow you to keep up to date with candidates without losing them in email clutter. Unlike recruiters or job boards, it’s all done at a low cost as well.
Sweating the budget? Make the most of your new year hiring needs with Monikl.