Ten Best Ways to Invest Your Diagnostics or BioTech Recruiting Budget

Responsible for a Recruiting Budget?

There’s no getting around the fact that it costs money to recruit high-quality job applicants. Even so, your organization can save considerable cash on recruitment costs by engaging in some creative, outside-the-box thinking. We offer these 10 best practices below for finding the candidates your company desires without breaking its recruitment budget.

  1. Sign up for LinkedIn’s recruiter seats: It’s a paradox in human resources that the highest quality of candidates are not always looking for a new job. When you use this LinkedIn tool, the platform helps you locate and connect with qualified candidates who would be most interested in hearing about your company’s current openings. It includes advanced search filters which enable you to better zero in on your ideal candidate and incorporates tools for managing and prioritizing candidates.
  2. Recruitment training: Your company likely spends a lot of money and time training new employees. Putting the same effort into training those who hire these employees in the first place can reduce on-the-job training time and the time it takes for new employees to become as proficient as their peers with more seniority.
  3. Use an applicant tracking system: Applicant tracking software (ATS) automates the recruitment process by posting job openings and tracking applications and resumes as they come into the system. Rather than spend hours reading resumes and only contact a handful of candidates, allow the software to sort resumes and select several possible candidates based on specific keywords. Once you contact an applicant for an interview, ATS tracks him or her throughout the process and assists you with scheduling needs.
  4. Sign up for industry training: It’s a worthwhile investment for your company to pay someone considered an expert in your industry to give several training sessions on the type of employees who make the best fit for the industry. This can be especially worthwhile if your business is part of a niche industry or you are new to working in the industry yourself. Hiring a CEO for a Fortune 500 company, for example, would require far different recruitment methods than hiring restaurant servers. Knowing your own industry is crucial to making a great hire.
  5. Use the most up-to-date technology available: Investing in technology is one of those things that costs you money upfront but saves you money over time. Video job interviews are just one example. Rather than having to go back and forth scheduling with a client who lives outside of the area, consider video job interviewing instead. It can also be a useful tool for first-round screening interviews. Investing in multiple computers or a computer with the ability to keep multiple screens open can speed up the recruitment process, as can operating a phone system with multiple phone lines. This can help cut down on several rounds of frustrating phone tag with candidates, references, and others you need to contact during the hiring process.
  6. Talent branding: Your company has its own brand among current and former employees, whether you know or approve of it or not. If you’re not sure where your business stands in terms of talent branding, visit a website like Glassdoor.com or Indeed.com to learn how those who have worked for your company view it. Keep in mind, job candidates use these websites to learn more about the reality of working for your company just as you would research a potential employee’s qualifications. To improve your talent branding, make sure that you create realistic job postings, define your commitment to fair compensation and benefits, state the tangible and intangible benefits of working for your company, and create a uniform message that you want the public to know about your business.
  7. Take advantage of social media: Creating social media pages for your company and giving one person or team the responsibility to update it regularly is important. Potential employees should see that the company cares enough to interact with those who visit its page. You might also consider paying to build inbound for your recruitment team. Facebook, Twitter, LinkedIn, and other top social media sites can be ideal places to find candidates who might not have thought to apply in the traditional way.
  8. Create a team of recruiting partners: Sometimes recruitment tasks become so overwhelming that you need to consider outsourcing them. It’s important to establish several resources you can turn to when you need everything from a little extra help to someone to completely take over the process. By working with a trusted recruiting firm, you can turn it all over to them and focus on other tasks for the time being.
  9. Provide a more attractive work environment: The last thing you want is to interview a candidate who appears highly promising and then have that person turn down the offer due to a poor working environment. If you’re concerned this could happen or it already has, take stock to see what needs an upgrade. It could be better lighting, larger desks and more workspace, changing the location of the department to something more centralized, and several upgrades to systems. Depending on the needs and budget of the hiring department, it’s important you help them prioritize initiatives around changes recruits find vlaubale.
  10. Retained search: If you choose to work with a recruitment company, be sure to ask about retained search. This is a strategy that screens potential employees to determine those with the highest level of skills and personal attributes for the job. This tactic is more useful than basic recruitment strategies because the recruiting company learns in-depth knowledge about the company and the roles it needs to fill. While general recruitment strategies may produce high-level job applicants, both employees and employers take greater notice knowing that someone has paid a retainer for a job.

The above are just 10 suggestions for lowering recruiting costs while increasing candidate quality at the same time. You can obtain additional information by working with a recruitment firm directly.

At Cerca Talent+, we employ all these strategies and more to ensure you meet and hire only the best possible candidates in you industry. We will tirelessly help you fulfill your recruiting goals by exceeding expectations every day. If your interested in learning more, reach out to me, Scott Rivers, via email: srivers@cercatalent.com.