How You Can Save Money And Still Get Great Candidates

How You Can Save Money And Still Get Great Candidates

Every company wants that perfect candidate – the candidate that’s got the right mix of experience, skill, and personality. But that’s much easier said than done, right? Not to mention, the effort it takes to try to find that perfect candidate can quickly become quite costly. 

It’s important, though, to make sure that you’re making smart hiring decisions. Saving money on hiring may seem more cost effective in the short term, but if that candidate were to leave or fail to bring in money to the business, you’re setting yourself up to take a costly hit in the long term.

In order to make sure your candidate, you, and your wallet are all happy, it seems you must learn to play a sort of balancing act – on one side you have a great candidate but a tight budget, and on the other you have more expendable money but a less than ideal candidate. 

How do you balance those two and still come out on top? Here are a few ways you can hire smart, hire quickly, and still save money.

1.) Know exactly what you’re looking for in a candidate

If you’re not certain the sort of person you are looking to hire, you are inevitably going to spend way too much time weeding through a bunch of candidates that you’re not sure whether or not you want. In the sense that time is money, this can amount to a huge waste. Before you even so much as place a job advertisement, make sure you have what you’re looking for really nailed down and finalized. Although this seems like a lot of work before you even officially begin your candidate search, you’ll save yourself time, effort, and thus money, when it comes down to making that decision of which candidate to hire. 

2.) Review applications in chunks

Unless you’re desperate and needing to hire someone by tomorrow, reviewing applications as they come in can be a serious time drain (and, again, money drain.) Instead, schedule in time to review a large bulk of applications a short time after you place the advertisement. This gives candidates time to submit their information to you, and your productivity won’t be interrupted by your need to review a single document. Plus, you’ll have the added benefit of being able to compare candidate applications rather than being forced to remember the qualifications of a resume you reviewed a week ago. 

3.) Consider an intern or contractor

Sometimes, because hiring can be so expensive in the short term, it makes sense to explore some other options. One of these options could be to take that intern you already have and hire them on full time. They require less training, less time learning the ins-and-outs of your company, and they can start in their new role much more quickly. Another option is to consider hiring a contractor. This gives you time to feel out a candidates skills with no risk to you at the conclusion of their contract – if they are a great fit, you have the option of bringing them on, but if they’re not, you have still received work from them in the meantime. 

4.) Let recruiters know exactly the sort of candidate to look for

Using recruiters is one of your best tools. Not only do you not have to pay them until they find that perfect candidate, but they also usually have access to or knowledge of large pools of great candidates that you may not even be able to reach otherwise. Because they are trained to do just that – find your ideal candidate – you can rest assured that they will handle all that work of weeding through duds and finding a perfect fit so that you can continue to focus on what you do best. 

Do you need help finding that perfect candidate? Reach out to us today so that we can start making those connections at no risk to you. 

 

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