During such a period your internal commitment to HR is not only being stretched, but comprised and it is the right time to consider investing in an internal recruiting team or external search/staffing firms to efficiently manage the hiring process.
This is also the time to ensure that you have a hiring plan in place.
Craft a Plan for Your Hiring Process, Including a Budget
Crafting any type of plan begins with asking the right questions and the primary questions to ask yourself when planning for your hiring process is:
How difficult is the role to fill? Do you already have anyone in the pipeline that has come to you via employee referrals or online applicants? Is there anyone internally who can fill the role? Remember, a deep, diverse pool of candidates always ensures the highest odds of a strong hire and this calls for a conscious effort to build such a pool.
All of which is enhanced when you proactively build a plan and Recruiting budget: HR planning tips and examples, identifies a series of categories for you to consider:
Job Boards & Advertising
These are your expenses for any posting you do to fill the position. This includes all job boards and paid recruiting accounts. It also calls for identifying the number of postings and the costs for each.
Here you’re capturing the candidate assessments that you pay for and the costs are generally totaled on a per candidate basis.
This category involves any recruiting costs associated with recruitment agencies, headhunters, contract recruiters or Recruitment Process Outsourcing fees. It can also include sourcing software/tools.
Employer Branding Events
These costs are separate from marketing costs and are focused on recruiting efforts such as career fairs and recruitment events, as well as any branded items you giveaway during these events.
The Careers Page is related to your company’s website and costs can include development and maintenance of the page and may be allocated to an outside company or your own staff depending on who the work is assigned to.
The focus here is on partnering with universities and other institutions that provide access to qualified candidates. Costs may include such things as paid affiliations connected to your recruiting efforts.
Salary Costs of Your Hiring Teams
These costs reflect an assessment of the salaries for your in-house hiring team and calls for a calculation of the hours spent by the different staff members on the hiring process.
An additional consideration for making sense of these categories and calculations is seeking to understand the impact of these expenses. On the one hand, it calls for recognizing that the costs will vary from month and so you may want to calculate the average costs over the course of the year. But this also calls for comparing the actual funds expended with those in your budget to better understand how realistic it was and where you may to need to spend more, or less, money as you refine your budget planning. One way to further assess the numbers is to examine which of the categories yielded the greatest number of viable candidates and compare the percentage of these hires to percentage of funds allocated for that category in your budget.
Take Time to Assess Other Considerations
There are also steps you can take in the hiring process, which don’t involve spending money and some of these steps are captured in “How to Spend Zero on Recruiting and Still Hire the Best Candidates:”
Turn Your Employees into Recruiters
Create an employee referral program that rewards employees for referring good hires and recognize the top recruiters with incentives that are aligned with the organization’s culture.
Focus on Character and Attitude
When you have a built a solid, strong-performing team you can focus less on the short-term and hiring for skills and more for the long-term, focusing on character and attitude, recognizing that skills can be taught.
Build Your Culture and Brand
People want to work for organizations that have a positive work culture and treat employees well, they know which organizations do so and it benefits your recruiting when you focus on these things too.