Reducing cost per hire

1st June 2022

Reducing cost per hire

Hiring can be super expensive. There’s salary costs for a recruitment team, advertising and online job boards costs etc. But, if it’s done right, there are a few ways to minimise the cost per hire.

4 ways to reduce costs.

1. Retain employees by creating a healthy company culture.

2. Research best channels for advertising.

3. Leverage your social media channels and showcase your company culture to attract talent.

4. Find a reputable recruitment partner that knows their niche sector.

 

Company culture- does it really work?

Our own research shows 65% of employees cite the company culture as a main reason they stay in their job, and 71% would start looking for new opportunities if the company culture started to deteriorate.

Having a healthy company culture largely depends on the people you have on your team. Take this into account when you’re recruiting by prioritising cultural fit. Likewise, being upfront about potential stumbling blocks or points of contention is important, as you don’t want to spend resources onboarding someone who eventually won’t fit in with your team.

A good recruiter will continually check in with candidates and identify stumbling blocks, reducing the risk of the candidate seeking another opportunity. A good recruitment partner will qualify candidates as a good cultural fit. This is a vitally important part of the jigsaw, right from the beginning of the process.

 

Advertising

Find the best way of advertising for job roles. There are so many channels, you can’t do them all well. Which one fits your target audience best? It could be Google ads, LinkedIn – or TikTok. Your target market will determine which to concentrate on. Your approach to each channel will differ hugely.

A good job advert for ecommerce must be bias free, very specific and include all details such as the mission of the company, the level of experience needed, salary and location at the very least. A recruitment partner will ask pertinent questions to get the minute details to be able to attract the right person.

 

Leverage social media

Your social media channels are the window of your business that everyone can see through. Let the culture of your business shine through them. In our survey, 49% of candidates interviewed said they follow companies they’re interested in on social media.

Recognising employee success and posting employee reviews also helps to build the company culture. Highly-relatable employee testimonials build an emotional connection with potential top talent. Success breeds success!

Likewise, client testimonials are the social proof that your business does a good job. It builds credibility, projects a positive message and builds trust.

 

Find a reputable recruitment partner

The recruiters at Simply Commerce know the difference between SAP and SAP Commerce, and our clients agree! This is why having a niche recruitment partner is key. A recruiter with expert knowledge in digital commerce will be able to quickly find the right people to allow you to continue with your projects, and ensure they are successful.

When all the associated costs of internal recruitment, salaries, time etc are taken into account, and compared with the figures on time it takes to fill positions, candidates completing their probation periods, and average tenure, are recruiters’ costs really that high? After all, they don’t get paid unless they deliver.