Important information to hire better and build your career from the experts in human capital.


Three Changes You Can Make To Reduce Hiring Costs

It’s no secret that the process of new employees on board costs a good amount of time, money, and energy.

From wading through a sea of resumes to interviewing and onboarding the best candidates, your company puts a lot into the hiring process every time it makes a new position available.

But, there’s also the possibility that you’re spending too much on the hiring process – and wasting a lot of money and resources in the process.

So, let’s take a look at some of the best ways to reduce hiring costs throughout your organization.

1) Understand Your Organization’s Needs

At first, this sounds like a no-brainer. Of course you need to know what you’re looking for in a new employee.

But what we mean here is you need to look past the position you’re hiring for, and look at the value you want to get out of making a new hire. In other words, rather than thinking in terms of “We need a new (position title),” you should be thinking “We need someone who can do x, y, and z for the company.”

Once you’ve made this mindset shift, your candidate search will become much more focused. Whether searching for candidates yourself or outsourcing to an RPO, you’ll have a much better idea of the exact qualities you’re looking for in a potential hire – making the search much easier in the long run.

2) Focus on the Process

Unfortunately, time doesn’t stop when you’re in the process of looking for new employees. The company still has to fulfill all of its responsibilities during this time – even if it’s shorthanded.

Because of this, it can be easy to let some of the hiring process fall to the wayside. Incoming resumes hastily get checked in chunks of five or ten at the end of every day, phone interviews get rushed through between meetings…things happen.

Instead of leaving the hiring process as an afterthought, mark out specific times of the day to be spent specifically focusing on a certain aspect of the process. Do this in advance, so you can also allocate personnel and resources to the duties you won’t be able to take care of during these moments.

Not only will this allow you to focus entirely on the hiring process at specific times throughout the week, but you’ll also become more aware of parts of the process that can be done more efficiently, as well.

3) Always Be Looking

On the other hand, while you definitely want to set aside time to deliberately focus on your employee hunt, you also should always keep your eyes open and be looking for prospective employees wherever you go.

Even if your company doesn’t currently have any open positions, keep your talent pool growing by networking with top-performing candidates at events and conferences, on social media, and via referrals from your current employees.

This way, when a position does open up, you won’t even need to advertise the opening and go through the process of wading through hundreds of resumes; you’ll already know exactly where to turn.

The Panther Group Success Stories

In fact, two of our clients have great stories that they shared with us.

Success Story #1: The Challenge – New Office and New Geographic Location

Success Story #2: The Challenge – Maverick Spend and Exorbitant Markups

Make Panther your true workforce management partner.

Panther’s Workforce Solutions team provides numerous inventive ways to help you manage your ever-changing headcount, watch your bottom line and focus on your company’s goals. Each of our staffing services is designed to free your time, improve your output and enhance revenue. Let us help you determine which solution is best for you.

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