How to Save Money on Recruitment and Employment

It would be impossible to not to have noticed that we are all going through a slightly tricky time economically. The credit crunch has taken a big bite of employers’ budgets and the continual doom and gloom forced upon us from the media has caused widespread fear and anxiety for employees (well, those that still have their jobs).

When the pressure’s on it seems that as well as marketing, training and recruitment seem to be the first things to feel the axe. Is that really the wisest move? Well, with a little bit of thought and consideration for the long term, I think not. So how can we as employers take some of the sting out of the credit crunch’s bite?

Firstly, it’s all about staff retention:

Training

As I said, training can be the first thing to do but what are the negative implications of this? When money’s tight the last thing you want to be doing is recruiting for a position which has been vacated by a great worker who has left you for another employer. Obviously employees leave for many different reasons such as relocating, personal reasons and ill health; you can’t do much about that. What about when they leave for a higher salary, a perception of higher job satisfaction or greater opportunities? These are things you can do something about. By cutting training you may be saving the pounds but consider the effect on staff feeling of value. Does the cost of training really out way the impact of having to recruit new staff which you will then have to, um, train?

Bonuses

Ok, so now may not be the time to reward your well performing staff with a monetary bonus but not rewarding them at all can be hugely detrimental. So what are the alternatives? Perhaps consider giving them extra holiday days. Obviously this still has a cost to your business but if it’s well managed it doesn’t have to have a huge impact and the effect on the staff can be invaluable. You could also try giving them early leave on certain days. I would stay away from gifts as most employees would prefer the cash and so may be resentful.

Talking to staff

How much do you know about your staff? Do you know when their birthday’s are or what their thoughts are on that new policy you have implemented are? Simply talking to your staff can reveal valuable information to help you keep your staff happy.

So you’ve done everything right but you still have positions to fill. How can you save money on recruitment? Here are some thoughts:

Advertising directly

It’s clearly free to advertise on your own website so make sure your job ad is there for all to see. The advert should be clear, concise and easy to find.

Job Boards

Job boards can be a significantly cheaper alternative to recruitment agencies and will have a larger catchment area than your own website. Choose one that well laid out and easy to use. Why not ask them if they offer free trials for first time users?

Employee Referrals

Make sure all your employees know you are recruiting, where possible. Often your staff may know people who might want to apply and you could consider offering them referral incentives.

Networking

Ask around amongst your peers and business contacts and you may be surprised at the results this could bring you.

These are just a few tips which could save you money when it comes to employment and recruitment. I hope you find them useful!

Louisa Anderson is a recruitment expert having spent the last 12 years working as a Recruitment Consultant, she is Content Editor for All Chichester Jobs and Brighton Job Search

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