Employees are the lifeblood of any organization. Without the employees performing to their fullest potential, there is no hope of success for any company. On top of that, every company wants to employ the very best and brightest in their field. There is constant competition among companies to snag the most highly coveted potential employees, which has turned quite cutthroat in recent years.
The most common way to attract talent is to offer them more money. This is a viable strategy for large companies with widespread businesses, deep pockets, and a high profit margin. The Googles and Amazons of the world can afford to hire top talent by throwing money at them. But what about the smaller companies? How do they remain competitive in this regard?
If your firm is grappling with this particular problem, then you have come to the right place. In this article, we will discuss how to recruit top talent on a shoestring budget and how to succeed despite the odds with what you have.
Tips for Recruiting Top Talent - For Cheap!
Here’s a well-hidden secret that most people don’t tell you: you do not need to have heaps of cash to throw around to get a top-notch team working with you. Even if you are operating with a tiny budget, all you need is the know-how to fully and efficiently use what you have to your advantage.
Everything you need can be had with very little cost, though the amount of labor you need to invest in these tools will be high. We have compiled a list of the very best things you can do to hire top talent.
1. Candidate Referrals Are Your Friend
One of the most effective ways to hire top talent is to ask your existing employees for referrals. They are bound to know a few others in the field, like them, and maybe they will refer friends and family, too.
Do not ignore referrals. It gives you a deep pool of potential recruits. Not all of them will click, but some will. This is a good thing, especially if they are friends with your current employees. This will make it easy for the new employees to get accustomed to your company while also raising the morale of your current workers.
However, only do this with employees who think well of the company and are having a good time. Otherwise, they may bias the referrals against the company. Despite all that, though, using referrals is a good bet. The most important reason? It is completely free!
2. Use Your Applicant Tracking System to the Fullest
Your Applicant Tracking System is another rich source of potential passive candidates. Not every candidate will make the cut - indeed, some may not even want to. However, people change. And when they do, when they open themselves up to opportunity, you need to be there to put the best offer you can on their table.
How do you do this? By maintaining relationships. As a recruiter, you will speak to a few hundred applicants monthly. You should strive to keep track of them with your ATS and check in from time to time. Just because it did not work out before does not mean that it won’t now.
This makes an Applicant Tracking System almost essential to hire top talent. It provides options you will otherwise not consider.
3. Expand Your Presence on Social Media
These days, most people seeking a job will advertise or search for placements on social media first. They will reach out to friends and connections before anyone else. This is a market you need to tap if you want to reach the younger demographic, which you definitely want to do.
Your safest option is to maintain a good presence on social media. Attract people to you, be fun and interesting, and make sure that when you advertise for vacancies, you do it there first. This will give your followers a notification and bring them in even quicker to look at what you are offering.
By doing this, you are making your company more accessible and transparent. Maintaining a good relationship with others online will do wonders for unpaid publicity. What’s more, by allowing people to see your company’s reviews and watching how you interact with others, people will regard you as a safer option when applying.
4. Be Easy on the Candidate
The key to getting good reviews and referrals is simple, really. You need to treat your candidates well. As a recruiter, it is very easy to give in to the desperation of hiring needs and provide misinformation to applicants to reel them in. This classic overpromising/underdelivering system is the bane of hiring.
Instead, be as open as you can when seeking to hire top talent. Tell them what you expect upfront, right at the interview. Notify them of the workload, working conditions, and the working process of the office. Share any bit of relevant news with them as soon as you can. Things about hiring schedules and by when they will know. Seeing an office working efficiently is sure to motivate them!
What’s more, keep in touch with them. There is nothing worse than not hearing back after an interview. Don’t disappear. As a recruiter, it is your responsibility to be the bearer of all news, good or bad. You should also provide feedback and, as discussed before, stay in touch with them.
5. Make It a Teachable Experience
If you are a small and growing company, then you cannot afford many specialist workers. Instead, you should aim to have your employees grow to fill the roles you need. And if there is one thing that all candidates and applicants are looking for, it is growth opportunities. So, give it to them.
Investing in the long-term future of your company and employees by teaching them skills of the trade can be hugely beneficial. Firstly, you will be creating your own specialists. Nothing is better than home-grown talent. Secondly, it is the employees who are willing to learn and grow that will form the backbone of your business. These are the people who you want to invest in.
To make the most out of this, though, you should communicate to your candidates well in advance that you are looking for people who are willing to learn and grow. It will attract the right crowd to your company.
6. Provide Amazing Perks
Yes, salaries are the main reason people will look to join, but there are other cards you can play. By providing the right combination of perks, you can easily sway a few minds to join you over competitors. Perks and benefits make the life of employees smoother and give them the motivation to work harder.
For example, pension, leave, insurance, and commissions are the most well-known perks and benefits out there. Things like maternity and paternity leave, health insurance, provident funds, flexible work hours, and commissions make employees feel like the company is there for them and gives them a sense of loyalty and belonging. It makes them work better, too, because they net more rewards this way.
Attractive perks will be inviting to many people and will be a big reason they choose to come work for you. As the recruiter, to hire top talent, you will need to find the right balance of perks that are attractive to applicants and sustainable for the company. Once you find the middle ground, be sure to advertise them on social media!
7. Make the Most of Technology
As time goes on, the hiring process is becoming more and more automated. Specialized AI sorts through thousands of applicants all over the internet and finds the ones best suited to your company. This removes a lot of hassle completely and saves you hundreds of hours of time.
Instead of sorting through piles of resumes, you can instead focus your attention on other matters. This will make managing the everyday working of the company that much more efficient.
With the way things are going, the reliance on data is going to get stronger and stronger. Your best bet is to start at least incorporating bits of this technology. Otherwise, you risk getting left behind, and that has never worked out for anyone.
Talenteria Helps You Get the Most of Your Recruitment Budget
Gone are the days when all you needed to recruit people was a flashy ad and bright colors. The world has changed now, and if you feel yourself getting out of step with it, we at Talenteria will help you. With our platform, you can broadcast job openings, manage candidates, build talent pools, and much more!
All of our services are time-tested and have been perfected over the years. What’s more, they are available to you at the click of a button! Get the most out of your recruitment budget and hire top talent without compromising on quality.