The new year brings new recruitment budgets and strategies. You can optimize these budgets and strategies by partnering with Corps Team.
A reliable budget is required to recruit top talent. You can efficiently use your budget to reach recruitment goals. Pairing an effective budget with recruitment strategies helps increase your hiring return on investment (ROI) throughout the year.
Refresh your knowledge of how to set a recruitment budget and how to optimize your recruitment strategies with Corps Team.
Confirm Your Recruitment Goals
Verify your recruitment targets for the year. Include the following details:
- Anticipated number of hires
- Job market
- Competition for talent
Consider other factors that impact recruitment costs. These could include one-time or recurring expenses:
- Employer branding
- Recruitment technology upgrades
- Job posting
- Recruitment events
- Pre-employment assessments
- Background checks
Evaluate Your Employer Brand and Messaging
Your employer brand and messaging impact your company’s reputation. These factors affect your employee attraction and retention rates. Your employer brand and messaging also impact your budget and recruitment costs.
Investing in effective recruitment messaging could include redesigning your website’s career page or updating your job descriptions. Sharing effective messaging helps build candidate awareness of your company’s employee value proposition (EVP). These actions can lead to positive outcomes:
- Positive employer reviews
- Elevated career page traffic
- Increased clicks on job postings
- Greater numbers of qualified job applicants
- Higher applicant conversions
Implement Programmatic Job Advertising
Having flexibility over where and how often your job postings appear helps maximize your recruitment dollars and stay within your budget:
- Use programmatic job advertising to automatically promote open roles on the job sites and platforms where your targeted candidates typically look.
- Adjust your advertisement spending according to your recruitment progress in specific areas.
- Pause or shift your recruitment budgets as needed.
Use Artificial Intelligence to Streamline Tasks
Invest part of your budget in artificial intelligence (AI) to streamline recruitment tasks:
- Exploring new markets
- Updating job ads
- Engaging passive candidates
- Moving applicants through the interview process
Save time and money by using AI to initiate and manage recruitment activities:
- Building candidate awareness
- Reporting on candidate pipeline engagement and conversions
- Screening applicants
- Maintaining engagement throughout the recruitment process
Work with a Recruitment Firm
Partner with a local recruitment firm that specializes in your industry. Work with a recruiter who understands the market and can develop and implement a recruitment strategy that gets results and stays within your budget:
- The recruiter uses traditional and innovative strategies to generate high-quality candidates.
- Data-driven, multichannel recruitment strategies help build candidate awareness and conversations.
- Real-time analytics illustrate desirable cost-per-hire and cost-per-applicant metrics.
Track Recruitment Metrics
Use recruitment analytics to record relevant data to help understand your recruitment spending. Then, use your findings to determine where and when to invest your recruitment budget:
- Identify which media channels are most cost-effective.
- Determine which job posting versions received the most applicant clicks.
- Uncover spending waste to improve recruitment ROI.
Track recruitment metrics such as:
- Cost-per-click: Costs paid for each job posting click
- Cost-per-quality: Recruitment spend per qualified applicant
- Total overall spend: Amount spent on recruitment as compared by job type, period, and geography
Get Help to Optimize Your Recruitment Strategies
Work with Corps Team to help optimize your recruitment strategies and maximize your budget. Find out more today.