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5 ways you can save on recruitment costs today

Did you know the average costs of a hire is £10,000?* Why so much, you ask? That figure covers the cost of recruitment, agencies, advertising, internal processing and training. But in my experience it doesn’t need to be that much. I’ve put together 5 tips, based on my 20 years’ experience, to save you from having to cough up £10k each time you’re looking to take on another team member.

  • Take time to re-engineer the process by stepping away from the day-to-day. To help capitalise upon the benefits of a re-engineering exercise, you need to free up resources to focus on the exercise in hand. Without enabling the core team to separate from their day-to-day duties you will dilute the opportunities this exercise can deliver. A great way to do this is to choose a core internal team to work through the current process, who then work alongside a Managed Solutions Provider who can offer expertise on changes that could offer improvements. This collaborative approach will help you devise the right changes for your business.
  • Make sure there are no 'sacred cows' - Everything can be challenged. If you are serious about maximising efficiency and the effectiveness of your recruitment solution, you should not be afraid to challenge the current working practices of your organisation. Often this works best when not solely done by someone directly involved in the day-to-day running. A fresh pair of eyes can make all the difference.
  • Control and use your PSL - Quality vs Quantity. Measure the performance of your suppliers, so you can truly understand their capabilities. By working with the right suppliers in a collaborative way, ideally supported by a strong and open Managed Service Provider, you can introduce great savings. Fewer right-fit suppliers will deliver a far more focused, effective and economical service. I’ve partnered with many supply chains to maximise the sourcing benefits to mutual clients.
  • Invest time in developing a good job description. Too much time can be wasted looking for the wrong candidates! This can happen when you don’t spend enough time drafting an accurate job description. Be realistic in your requirements, and ensure you include as much detail as possible to the recruiters and potential candidates. This will help your suppliers/recruiters find the right candidates much faster, increasing your speed to hire. You should also ensure that suitable candidates are identified earlier in the process because by acting quickly, it also removes the frustration that can build during the recruitment exercise. We have vast experience in developing job descriptions for our clients, helping suppliers, recruiters and applicants, so if you’re unsure on how to go about writing a good job description, get in touch and we’ll be happy to help.
  • Correctly budget/benchmark the role before starting the hiring process. Finally, before you go through the lengthy process of budget approval for a position, always ensure that the salary/rates are accurate, as this will help attract the right quality of candidates. This also has the added benefit of helping to direct the recruiter/supplier in the quality, experience and level of applicant that you are seeking.

We understand that every business is different, therefore every recruitment solution will inevitably need to a more specific solution, tailored to their needs. For more information on how you could save on your recruitment costs, feel free to contact us on 01925 907008 or email us and we’ll be happy to help you.

Reference source* -

By Simon Woodhouse - Director


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