Recruitment is key to the success and growth of any business. But how do you measure the cost-effectiveness of your recruitment process? How do you strike that delicate balance between the labor, time, and financial resources invested to search, vet, hire and retain top talent and maximizing your return on investments for these recruits?
In this post, we discuss some of the best practices that can help you improve your recruitment ROI to make sure your business gets the best out of your new hires.
1. Create a Smooth Selection Process
If your hiring process is time-consuming, you can easily lose candidates. There is a good chance that your shortlisted candidates may be communicating with your competitors. Meaning, if your interview process has many stages or takes too long, they may lack interest in your offer and prefer your competitor. You should simplify and streamline your recruitment process to reduce the periods between interactions.
2. Give Clear Requirements
Listing your requirements can help avoid unsuitable hires. You need to understand and list the knowledge, experience, skills, and roles relating to the vacant position and would be helpful to involve your team in it.
3. Use the Right Channels to Advertise
You can easily achieve your recruitment goals by advertising the vacant positions using the right channels. Let your recruitment agency strategize this for you to determine where you can find your target audience and increase your visibility in the platforms.
4. Have a Well-planned Onboarding Process
Many organizations overlook the onboarding process, yet it is has a significant impact on the retention rate of new employees. If well planned, interactive, fun-filled, and dynamic, it helps your new hires to understand, adapt and engage with your company.
5. Try Passive Recruitment
At times, potential candidates are not actively looking for a job. But you can tap into a talent pool of such suitable candidates through passive recruitment. One way to do that is through fostering a culture of “recruitment” internally among your current employees. Incentivize your staff to bring in quality candidates through their connections. Additionally, build a perception that you are an authority in the market and present the job description’s “benefits” to the potential candidate, instead of just emphasizing your requirements.
We Can Help
At Furman Feiner, we help clients boost their brand recruitment impact and ROI by reaching the 3Rs: Right audience, Right message, and Right time. Reach out to us today and learn more!