How To Save Time & Cost In Your Hiring Process

Running an organisation is a monumental task. There are so many things to attend to, and one of the most crucial part is to ensure you are hiring the right people. Hiring the right people is important, but you should also keep an eye on your numbers when you’re hiring.

Obviously, you should know how many interviews you’re setting up and when it’ll take place. This can be easily done through a good scheduler.

But in this article, we’ll explore some numbers that you should pay attention to so you can see how effective your hiring process is.
 

Time to Fill

This metric looks at how long it takes you to fill an open position. It starts from the time the position opens and ends once a new employee is hire.

The longer the time taken to fill the position, the longer you go without the employee, which means the hiring process just got more expensive.

This is why it’s important to know how long it takes to fill the open position. The standard length of time to fill depends on the position and the industry. For instance, a financial institution hiring a new CEO will have a longer time to fill than a grocery store looking for another cashier.

Hiring Source

Most companies use multiple channels to attract job candidates. Nowadays, mobile hiring is the way to go as it’s faster and easier to use, especially as it targets the younger generation by taking advantage of social media, online job boards and targeted ads.

Knowing where your applicants are coming from is good, and it can also help you to figure which sources have been delivering results for you. You might also need to invest a little more time and money to measure these metrics.

If you found out that a certain source takes a lot of time but doesn’t provide the results you desire, you can start to put less time into it.

Application Completion Rates

In order to get access to the best applicants, they need to actually complete your application. However, this can be hard because many people abandon online job applications halfway through.

This could be anything from a slow site, an application that is too long or a variety of other things. AJobThing has many features to make it easier for applicants to apply for your job, find out more here.

Hiring Cost

Taking a long time to fill an open position can be expensive, but it isn’t the only factor that can make your hiring process expensive. Here are a few things that can add to the cost of your hiring process:

• Posting on certain job boards

• Spend time reviewing applicants

• Holding interviews

• Pre-screening candidates

All of these either cost a lot of money or time. Knowing how much you spend on a hire can show you different ways you can save in the future. Without these numbers, you may have no idea what you’re spending on every hire, which can be problematic to the company.

We realise that these numbers are critical for you, and if you’re looking to save money in hiring and still find high quality candidates, this is the best recruitment solution anyone can afford.  

Source: Wonolo

Related articles

Here are Malaysia’s Top 5 Jobs of the Future

Looking for Tech Talent? Try Sarawak and Kedah

70% of Job Seekers Lose Interest In Your Job One Week After an Interview