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How can I reduce recruitment costs and time to hire?

Published: Thursday 31st December 2020

In most companies, recruitment takes a huge chunk of the overall operational costs and their budget. While spending money to hire new candidates is justified, making sure that the talent acquisition process is cost-effective, is essential. That’s why managers should keep considering possible ways to reduce recruitment costs and time to hire. 

To set a benchmark on the average time to hire in the UK, this stands at 10 weeks for directors with an average of £12,000, 6 weeks for managers and £3,000 as well as 4 weeks for staff with an average cost per hire of £2,000.

As a job board, our team is dedicated to helping UK businesses improve their recruitment process, making it less time-consuming and more cost-effective. So, here are some areas that can help you do just that! 

Choose the right job board to reduce recruitment costs and time to hire

young woman in glasses stretch hand for handshake greeting introducing to someone, smiling. Hiring and recruitment concept.

There are so many job boards available that offer free and paid offers. However, to improve your hiring, it’s crucial to find a job board that works best in accordance to your needs. Zoek not only offers tailored packages down to your exact recruitment needs, but we also have different models available with the most competitive prices in the market. 

Opt for video interviewing

Video interviewing is less expensive compared to physical interviews. It’s also in line with the current social-distancing restrictions. In physical interviews, you may have to pay for transportation, lodging and meals. Video interviewing is not only trending, nowadays, due to the fact that it’s a low-cost means to do the initial screening. Most importantly, you can easily see the behaviour, gesture and expression of the candidate which helps you to drive the conversion.

Deploy the right recruitment software

To cut down on your recruitment costs, you really need to transform the way you work. That’s why you should be thinking about how to automate your workflow in a structured form.  Recruitment CRM Software is specially designed to narrow down your workflow, to save time, and minimise costs, streamlining your process from start to finish.

Make use of Artificial Intelligence

brain shape of an artificial intelligence with various icon of smart city Internet of Things Technology

There are many software solutions such as Zoek, that provide all AI-related features, you will need to achieve your goals. Through the use of Artificial Intelligence you will receive suggestions for better matching candidates, screen candidates automatically and automate your day to day work.

Use social media to reduce recruitment costs and time to hire

Social media can prove really effective when aiming to showcase your employer brand to the world and build awareness. It is the best option to promote jobs and directly engage with suitable candidates without spending money. LinkedIn, Twitter, and Facebook are widely used for such purposes. You can choose the platform based on the audience you are looking for recruitment.

Limit the number of candidates 

One of the most important things is to focus on quality rather than quantity. The best approach is to focus on the talented candidates that can really benefit and add value to your business. Going for quantity over quality could cause confusion and prove problematic as you may end up spending resources you wouldn’t have to spend in the first place, by evaluating unsuitable candidates. 

We hope the above-mentioned points will help you to address your cost and time of hiring, successfully. For more information on how Zoek’s platform can help you recruit quality candidates, get in touch with us on sales@zoek.uk.

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