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Top 10 creative ways to stretch your recruitment budget

02/11/2019

Top 10 creative ways to stretch your recruitment budget

These days money is tighter than ever with every department feeling the pinch, especially against a backdrop of political and economic uncertainty. But work still needs to get done and companies must attract the strongest talent for the least outlay (and hassle). Although a large recruitment budget would be amazing, often times it’s simply not possible, so this is when it’s time to get creative. The good news is there are plenty of opportunities to recruit on a budget – the trick is in spotting them and utilising them effectively. After all, throwing lots of money at something doesn’t always guarantee success.

Here we’ve put together some handy ways of obtaining the very best talent without breaking the bank.
 

  1. Social media and blogging

Social networking is everywhere and is now an essential marketing tool - so why not extend it to recruiting too?

Many of your current employees will have a social media site like Facebook, Twitter or LinkedIn, so it’s worth encouraging them to make group connections and see who comes up.
 

  1. Word of mouth

As we all know, word often travels fast - especially when it comes to recruitment. People make new acquaintances and attend networking events often, especially in larger companies, so put together an attractive employment package and get the message out there.
 

  1. Employee referrals

This is where you get your existing employees involved by asking the top performers in your company to find the ideal candidate on your behalf. It’s a bit radical but may just work! Essentially, the employees provide you a handy list of top people in the areas you’re recruiting and even make the first contact for you. You’ll likely find that many staff members are willing to do this without an introduction fee, although you might decide to offer one anyway as an incentive. You could even take referrals from partners, stakeholders or customers too.
 

  1. Advertising internally

Maybe there’s already somebody perfect working in the company right under your nose? Many jobs nowadays are filled internally, which is great as it’s inexpensive and saves a huge amount of hassle. It also takes away the risk of employing someone you don’t know, who may not turn out to be the best fit after all. It’s well worth sitting back and taking stock; is there anyone you can think of who has the right qualities and experience for the job? Might they be interested in making the jump?
 

  1. Role sharing

Maybe it’s time to go back to basics - do you actually really need to fill that vacancy anyway? It might instead be possible to have one person taking on two different roles part time, as long as full time cover in the original role isn’t essential. You might even find that some of the positions you originally thought were important are actually not as indispensable as you first thought.
 

  1. Recruiting at professional events

Head to any local or national trade shows, events, seminars or award dinners where your target audience is likely to be found. It’s a great opportunity to network, plus it gives the personal touch when finding the ideal candidate. You could even select a couple of trusted current employees to do some scouting on your behalf.
 

  1. Utilising newcomers 

Again this one’s quite bold but it’s well worth thinking about. It basically involves asking people who haven’t even started working for your company yet to recommend new talent.

  • Take the interviewee approach - During interview, ask your potential new recruit if they can recommend anyone else looking for work in a similar field. It sounds a bit cheeky, but actually there's nothing wrong with explaining that you need a number of talented staff. It’s an especially handy technique if you’re interviewing for an entry position or something that’s likely to attract new graduates, as they tend to offer a pool of potential candidates readymade.

  • Re-trawling - Go back through the applications of candidates who have previously applied for roles at your company. If they were previously unsuitable for another role but seem perfect for this one, there’s no harm in contacting them and seeing if they’re still interested in working with you. Also consider if there were any ‘near misses’ i.e candidates who were almost perfect last time that would be worth looking at again.

  • Working mums - Companies that are prepared to offer home-based or flexible working can benefit from new parents who are looking to get back into the job market having recently started a family. By considering such flexible working practices, you open the door to some amazing talent, skills and experience that could well end up being of huge benefit to your company.


8.    The Google Search

Just about anyone with a professional profile will have some kind of presence online. Have a look through Google for any job titles, names, jobs descriptions or news stories involving people you could approach. Again it sounds a little off the wall, but you never know who might be looking for work within your field and who you could attract. If you’re still finding that your job adverts aren’t quite pulling in the ideal candidates, it would be worth tweaking your descriptions so that they’re more appealing to your target audience.
 

  1. Try the personal touch

Once you’ve achieved a shortlist of suitable candidates, consider asking others at your company - preferably those at management level - if they would be prepared to contact them on your behalf. They should explain to the candidate that they’ve been shortlisted and that they would like to get to know them better. It can give the potential new recruits a feeling of the company being a ‘family’, as though there are many people involved in the recruitment process so they can get to know the company from a variety of angles. It’s a good way to gain feedback from trusted colleagues about each candidate, and they might well have opinions and gut feelings about people that you may not have considered yourself. Done well, it can be a really effective, productive and low-cost way of recruiting.


10.   Use No Risk Recruitment!

No Risk Recruitment is an online UK-based recruitment specialist, working with businesses across the country to recruit the very best candidates possible. We do this by reducing their cost per hire, saving them valuable time, and improving the quality of applications they receive.

We’re not an agency - we simply use our cutting edge technology and super-efficient applicant tracking system to help you to build the talent pool you need.


Why use No Risk Recruitment?

If you look after the pennies, the pounds look after themselves - and we know those pounds need to work hard. That’s why we’re pleased to offer our fixed fee cost-per-application pricing structure, with NOTHING TO PAY up front then just £6.50 per high-quality application.

So why waste time and money using anyone else?


Get in touch with the experts today

We’re here to help you fill your vacancy quickly, cost effectively and with the very best person for the job. Call our friendly team today on 0117 4567160 or use our contact page and we’ll get back to you.

 


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