We all have Finance controllers in organizations to track the finances but have we (HR’s) thought to be a part of Cost controlling Part of the organizations.

HR is always termed as Cost Centre, which is true but by working on few steps we can reduce our recruitment costs and can be a cost consultant to the company.

With various portals and search consultants available, the recruitment process has become an expensive affair and is a concern for most of the organizations.

Here are some points where I feel, we (HR’s) can save the Cost.

1. Every HR/ Recruiter or the manager shouldreview & revise the recruitment process in order to see the change in cost and should note the trend change and should only hire people only when others are 100% occupied and billable.
2. Organization branding is also very important. This helps you to get interested candidates.
3. Using internal HR team for the hiring can save lot of money. Consultants & agencies should be approached only at par situations.
4. Referral recruitment can save a lot of money and time. We should ask for referrals from employees and instead of paying the employees with referral bonus, we can pay them with referral tags and can announce a special referral category award at award functions.
5. We should provide proper feedback to the candidates applied to different positions and prepare a candid database for the future positions, which will save time and effort.
6. Recruitment through LinkedIn and Twitter can also be a save lot of moneyand can also help in networking and finding prospective candidates.
7. We should also check on hiring pattern and should prepare a list of companiesfrom where we have hired most of the people. This will help us to target the right company for right profile.

I think these small steps will help HR’sto bring down cost per hire and can act as a Cost controller for HR

Ranjeeta Koul is HR Manager at Jungheinrich Lift Truck. Follow her on Twitter @ranjeetakoul