Reducing cost per hire is something that most recruitment professionalswould admit to wanting to achieve. But they would also add that the challenge is to do that whilst selecting and hiring high quality candidates at the same time. Yet many recruiters are overlooking ways they can achieve both areduced cost per hire and find exceptional candidates who can help a company grow successfully.
The quality vs. quantity conundrum is one that affects countless companies today. So what is the one essential that recruitment professionals can focus on to attain the right balance?
What is it that recruiters are overlooking?
The talent pipeline: Leaving a targeted talent pipeline out of the equation can create a range of hidden costs for recruiters, due to the drain on time and resources.
The balance of skills: In the bid to save costs, many recruiters are seeking to do everything in-house – from advertising a vacancy to shortlisting candidates. On the surface this may seem like a cost saving measure. But it can end up creating more recruitment costs, in contrast with balancing in-house resource with outsourced expertise. This hybrid approach can reduce the hidden costs of recruitment and feed into the talent pipeline.