This is the final article of “ Reduce technical hiring cost using these strategies” series. No new hire comes for free, but there are strategies you can use to reduce your unavoidable hiring costs. In 2018, the average cost per IT hire was $1,900 and at present time IT hiring is way more expensive. This is so important that you should have some plan for reducing it.
Offer the best competitive salary
As you send an invitation to a candidate for the interview, other companies also send the invitations to the same candidate. Now, if any other company offers a good salary to the candidate then the candidate will join there for sure and you will need to again send the invitations to other candidates. As this process consumes a lot of time, the hiring cost will also be getting higher. But, if you have the statistics of other company’s salary offering then maybe you could hit the bullseye.
Ways to implement:
Start analyzing the salary offerings of other companies and make a spreadsheet for enlisting them. Then set a salary that no candidate can refuse. It will help you to save time and several interview session’s costs as well.
Focusing on Optimizing the company career page
This part is the most important part because Career Sites are no longer just static job pages of years gone by linked together by a single homepage. A good functional Career Site can really act as your recruiting hub for engaging and interacting with candidates and explaining them about your company and employment opportunities. If you have a beautiful, compact and fully optimized company career page then you don’t have to invest extra costs for hiring candidates.
Ways to implement:
The first thing that you should work on that is the Employer Branding and then make your company’s career page compact and keep it optimized.
Start using Digital Interview process
In this age of Digitalization, this is the most exciting interview process nowadays. The manual interview processes are time-consuming and costly too. But, if you can implement this process then you can save both money and time. Many companies today, are working with this process for long-distance candidates who cannot appear for the face to face interview. But, still, we can use this for reducing the hiring cost.
I hope you all will enjoy this “Ultimate strategies to reduce technical hiring cost” series and it will help you to reduce some technical hiring costs. So keep reading and share your comments.