HR.com is currently featuring a blog post written by Joe O’Connor, CEO of ViziRecruiter, that dives into all things recruitment budget strategy. Joe has identified key areas that should be included in every recruitment budget. Additionally, he highlights key questions to ask as HR teams redefine particular expenses, subscriptions or technology investments. The article is broken down into three sections: Before You Begin, Solidifying Your Cost-Per-Hire, and Recruiting Investments. These areas serve as essential stepping stones for building out a new, cost efficient strategy.
Unforeseen and last-minute expenses add pressure to the already limited space in your budget. Due to these unavoidable costs, it’s essential to evaluate the effectiveness of your current processes. Start by analyzing the benefits of each segment that makes up your current strategy. Do these benefits outweigh the costs? Establishing an effective recruitment budget strategy has proven to be a time consuming, headache educing task. This new VIZI article provides insight to help eliminate the burden by easily optimizing your strategy going forward. By evaluating the following typical expense areas, you can begin redefining your current recruitment budgeting process. Ready to start saving? Let’s begin!
Begin By Analyzing These 5 Commonly Listed Expenses:
1. Job Boards
Are you typically receiving more quality candidates as a result to using one platform compared to others? Additionally, are you fully maximizing the job board experience?
2. Salary Costs, Recruiter Fees, and Performance-Based Incentives
How much are you spending on dedicated personnel? Can you save cost by eliminating unnecessary outside contractors, or in contract, is an increase in recruitment staff essential for fulfilling a higher number of hires in the upcoming year?
3. Applicant Tracking Systems
Would it be more beneficial for your financial situation to choose an ATS with a fee set up monthly, per-user, or at an annual cost?
4. Employer Branding Tools
Are your current tools serving a single employer branding purpose or are they being utilized to achieve multiple goals at once?
5. Career Pages
Is your career page attractive, easy to navigate, and engaging? If all of these areas do not create a positive, authentic candidate experience, it may be time to explore other options to get your money’s worth.
Read the Full Story: Allocating Your Recruitment Budget