Amidst rising unemployment, and what some call a recession – or even financial crisis, it’s that time of year to finalize your plans for 2009 recruiting budgets. This post contains ideas on things you can do to cut (if needed) – or optimize your spending.
Once you know anticipated volumes and skills you will be responsible for finding, here are 5 EASY ways to optimize your recruiting budget:
Job Boards. Take a good, in-depth look at your job board spend, and overall results. Besides the crappy candidate experience, it should come as no surprise job board traffic continues on a multi-year decline. Use this to your advantage – and negotiate. You should be paying a substantially less amount per posting than in previous years. Most of the big boards continue to add new services to offset posting and resume database access. For more ideas on job boards, you can read an earlier post, “What Would Happen if Job Boards Became Obsolete“?
Use SEO, SEM, Social Media, and Blogs. As the traffic declines with the boards, use search engine optimization, search engine marketing, and social media tools to recruit. These have been a hot topic for a couple of years already, and there is enough proof, case studies, and white papers highlighting success – especially with SEO. No, I’m not talking about a .jobs domain that re-directs to your careers site… On the Social Media front, focus on networking and hiring from sites like Facebook, Twitter, Plurk, Plaxo, LinkedIn and others.
Recruiting Events. Carefully assess your attendance at recruiting events. When you make one-off decisions throughout the year you can typically justify attendance. There are some industries and jobs where an event (such as a career fair) might make sense. The truth (for most) is events have never made the top of the list for sourcing effectiveness. There may be reasons to attend (branding as an example). If that’s the case, your Marketing group can fund the event. Be clear about why you want to be there, and what results you are striving to achieve.
Get aggressive with sourcing. Reduce your reliance on external providers where it makes sense. Don’t wait for the talent to find you. Sounds easy – it starts with equipping recruiters with the right tools and training.
While there is no “one size fits all” approach, take a leadership approach and maximize recruiting and the value it brings to your organization while not jeopardizing quality.