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Hiring is not an inexpensive proposition, but it may be the most important thing your company does. Every step along the way, from advertising to interviewing, rings up the dollar signs. So how can you lower your recruitment costs and still attract top talent to your doors? Before you create your next hiring plan, here are just three tips that can help you lower your recruitment costs and improve your quality of hire.

Create an Employee Referral Program

One of the best ways to attract top talent and lower your recruitment costs is by offering an employee referral program. Good people refer good people. You can incentivize the process by providing a bonus. For each employee referred who accepts the job, your team member receives a bonus. Some companies do a tiered bonus approach:

  • A bonus paid when an offer is made to the referred party
  • An additional bonus paid after the referred employee works 30 days
  • A third bonus paid when the referred employee completes 90 days

While you’ll pay your employees for their referrals, the cost is offset by the need to advertise your open positions.

Tap Into the Power of Social Media

Social media is a gold mine of fantastic talent, and it doesn’t cost a thing. Using your online platforms, such as LinkedIn, Twitter, or Facebook, post your open positions there. Point potential candidates to your website where they can apply. Unlike traditional job boards, social media doesn’t have to cost any money, and depending on your reach and how you’ve developed your online brand, you can source great talent this way.

Partner with Anserteam

You can also save money by working with a staffing partner who can handle all sourcing and recruiting processes to bring you only the most qualified candidates. When you work with Anserteam, you can reduce costs, improve efficiency, and receive customized services that fit your specific company and needs.

Do you want to lower the cost of recruitment?

Anserteam Workforce Alliance represents North America’s very best staffing agencies aligned together to deliver world-class workforce management solutions. We offer end-to-end talent services that can be customized for any size business, utilizing our Managed Services Provider (MSP) model and Vendor Management Solutions (VMS) technology. Is your organization seeking a WBENC-certified diversity partner to provide measurable results and substantial cost savings?  Contact us today.