Recruiting budgets are being slashed left and right – yet recruiting teams are still expected to fill key hires.
That leaves recruiters stuck between a rock and a hard place.
Making matters worse is that for many qualified roles, competition is fiercer than ever.
If you’re in this position, we know how stressful it can be.
Check out these three practical ways you can stretch your recruiting budget.
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Stretch Your Recruiting Budget With Referrals
Did you know that statistically, employee referrals lead to faster hires that stay with the company longer than other talent sources?
Referrals are an incredibly efficient way to make hires on a tight recruiting budget. But part of the problem is that companies either don’t promote them enough, or don’t offer the right incentive.
To get the most out of this talent source, you’ll want to offer a great cash bonus. You need to offer something that gets people excited to refer a friend.
Furthermore, you have to make sure people know about it! For as long as you have open roles, you should promote the referral bonus in employee announcements, newsletters, emails, you name it.
Write Killer Job Ads
Everybody writes job ads and job descriptions when recruiting. But more often than not, they are so boring they put people to sleep. Better job descriptions and ads is a great opportunity to get more from your recruiting budget.
If you want to get more applicants, but can’t afford to pour a lot of money into the search, you need job descriptions and ads that capture as many candidates as possible.
Instead of a laundry list of job requirements, focus on what’s most important. Furthermore, focus on what makes your opportunity EXCITING for candidates.
How does this role make an impact? How does the role help the organization grow, or benefit the broader community?
Does it offer a chance to learn new skills, or achieve something awesome?
It doesn’t cost a dime to learn how to write job ads that turn heads and inspire candidates to apply!
Keep a Bench
One of the best ways to make the most of your recruiting budget is to keep a bench of candidates. For every search, you’re bound to talk to more candidates than you end up hiring.
Keep in touch with anyone who has impressive credentials or the right mindset. Even if they’re not the right fit today, they could be a great hire tomorrow.
Whether your needs change or the candidate learns valuable new skills, you never know when the timing will work in your favor. So keep in touch and keep a strong bench!