Here are 5 ways to reduce your company's recruitment costs:
1. Make sure current employees are happy
Money is not the only reason people come to work. Statistics show that companies that offer other incentives have a happier & more productive work force. Ideas you could consider are flexitime, travel passes, casual dress days, duvet days, free drinks machine, gym memberships, on site day care, recognition of performance and incentive programs. Ultimately, if you can keep your work force happy they will not leave and they will also be more willing to refer their friends / ex colleagues for other roles within your organisation.
2. Introduce an internal refer a friend scheme
For obvious reasons internal recruitment is the most cost-effective form of recruitment. Referrals from staff can often provide good quality candidates with relevant knowledge and experience at practically no cost. Consider offering an incentive for internal referrals such as extra holidays, theatre tickets, weekend trips, or simply some vouchers - whatever the costs you can be sure it will be less than a press advertisement or agency fee! Keep current employees up to date on what opportunities there are within the organisation - perhaps with an intranet, newsletter or regular meetings.
