How to Reduce Time and Cost of Hiring

30 Jun How to Reduce Time and Cost of Hiring

 

Reducing or eliminating the time and cost of recruitment can be a very challenging task for any business owner. We sat down to find easier ways that accounting and bookkeeping practices can use to find and hire the best talent in a more efficient way:

1. Use Social-Media for Hiring Process

With the advancement in technology and the increase in social media use, it has become one of the best ways to find quality candidates and engage with them. Posting positions on social media platforms like LinkedIn, Facebook or Twitter can be a great way to find opportunities to connect with potential applicants. These nontraditional sources can allow you to reach out to a larger audience through your network and use filters to find top contenders quickly. Potential employees can learn about the job and your organization through your company page saving you time spent on sharing important information with each candidate individually.

2. Use Technology

The use of different recruiting software can also help in reducing time and cost. Automating some tasks like FAQs, messaging or screening hundreds of resumes for keywords that match the job description will allow you to accelerate the process and make it more efficient.

Moreover, meeting and interviewing candidates online through virtual meeting platforms will allow you to save resources spent on in-person interviews.

3. Outsource

Outsourcing is the most beneficial way to reduce the cost and time of the hiring process. If you find new clients that increase your workload beyond your current capacity, an outsourcing partner can help you address the sudden increase in work. You can have a resource working for your client without wasting time on posting jobs and interviewing several candidates to find the right fit. Moreover, finding a good outsourcing partner will allow you to save money on hiring software fee, marketing and advertisement cost and other expenditure required for recruiting new employees. As a bonus, you can also save the time and money required in the training of new employees.