Article: Three offbeat strategies to reduce cost per hire

Talent Acquisition

Three offbeat strategies to reduce cost per hire

Use social media to build a pipeline of pre-screened candidates
Three offbeat strategies to reduce cost per hire
 

Author: Jyotika Singh

 

CPH metric is a vital HR tool but simply tweaking the formula is not enough to get the desired outcome. These creative recruiting strategies below can help reduce the hiring cost and also come with bonus advantages for the HR department and the company.

Leverage Social media recruitment, not just for reducing advertisement costs but to build a pipeline of pre-screened candidates. Most companies limit their social media hiring strategies to creating an online listing of jobs, distributed through networks and profiling of candidates through social portals.

Posting project problems, online competition events are ways to connect and recognise the aptitude of candidates. Built on the lines of Google Code Jam or Microsoft Coding challenge, such events increase the awareness of the employers within the employee community at the same time introducing a large volume of candidates to the company. This way an employer creates the potential to evaluate the candidates for their ability to solve problems, even before the hiring process starts.

Bonus: Build and strengthen your brand.

Explore the untapped readily available, experienced talent pool

Often employees mostly women professionals have to leave the workforce due to personal constraints. When they are ready to comeback they are often left out due to gap in their resumes. Employers usually have concern that such candidates are not current in their skills. Companies can offer re-orientation programs to provide on-the-job trainings to returning candidates. Such programs also benefit employers as a screening tool to make hiring decisions on the basis of meaningful work samples in their environment.

Bonus: Foster gender diversity.

Let Job Descriptions Do the Talking

Most JDs seem to be written as if to hire robots equipped with certain set of specifications. In real world, it is difficult to predict the performance of future hire only on the basis of the skills they have. In most cases it is the candidates’ performance that defines his or her success.

Job descriptions need to focus on the outcomes, rather than necessary skills - focusing on candidate’s ability to perform specific tasks. For example, instead of excellent verbal communication skills JD should focus on ability to interact with the client project manager for status reporting (demonstrating necessary enthusiasm, collaborating across the team, developing good working relations etc.)

Effective performance based job profiles attract relevant candidates. Candidates also get a chance to showcase their past performance through cover letters thus making screening easier and cost effective.

Bonus: Improved collaboration between HR and business.

Jyotika Singh is Founder of relauncHER. You can follow her on Twitter @relauncHERindia

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Topics: Talent Acquisition, #TalentMinded

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