Job advertisements. Recruitment agency fees. Software costs. The cost of your time….. The list goes on and as the year progresses, it gets harder and harder to keep track of HR related expenses. Needless to say, it’s almost impossible to stay within a certain budget before the dreaded yearly expenditure reports that your boss or financial controller asks you for. No need to fret! Not all hope is lost! What if we told you that staying within an HR budget doesn’t have to be so hard after all? Read ahead! Here’s how you can cut costs and stay within your recruiting budget regardless of your company size!
As a small to medium business, there are a number of trials and tribulations you face when in it comes to recruiting. Chances are, you don’t have a budget for recruitment, let alone a full-fledged HR team with a talent manager, head of recruiting and an onboard-er. Recruitment agencies are a viable option, but they charge high agency fees per candidate placement; meaning you can never really stick to a budget. On the other hand – If you choose to move hiring in-house, there is another dilemma at hand! You still want to source the same quality candidates as large businesses without having to fork out thousands on Taleo or Oracle Applicant Tracking Systems. Is that too much to ask? Well, no it isn’t! Modern free applicant tracking systems allow you easily source, sort, manage and onboard your candidates without worrying about hidden costs or expenses. Better yet, platforms like My Recruitment Plus give you the customization of enterprise-grade platforms.
As a large business, it can be even harder to remain within a budget throughout the year. So let’s take a look at the main areas that you can cut costs as a large business.
A modern ATS can help address budget challenges in SME and large businesses overtime by making the recruitment process more efficient. By saving time on intensive labor hours spent reviewing resumes, sorting CVs, scheduling interviews and manually transferring candidates into different HRMS systems; an ATS can help yield higher-quality candidates for less over time. So what are you waiting for? If you haven’t already, give the modern Applicant Tracking System a go today!