Reducing Hiring Costs While Boosting Quality: How Can Organizations Achieve Both?

Strategies for Reducing Hiring Costs

Please suggest as we would like to understand if an organization wants to reduce the cost of hiring, then what would be the steps for the same. Please share your valuable views on the same.

Balancing Budget and Quality in Hiring

If an organization is looking to reduce the hiring budget but also improve the quality of hires, how is it possible?

There are many ways in which the current system of billing in recruitment can be reviewed to reduce the cost per hire. Furthermore, the way you plan the recruitment drive can affect the cost per hire. Please do share more so that we can discuss this and arrive at an accurate solution. Figuratively, there are many tasks that are duplicated. If you review your processes, you may eliminate them or integrate them with other relevant activities without affecting the time duration.

Discussions on Reducing Cost Per Hire

Here are a few discussions that have brainstormed on this earlier:
- [How to reduce cost per hire](http://citehr.com#axzz1BBake8IE)
- [Cost per hire calculation](#axzz1B4SLtmvN)

Regards,
Cite Contribution

Quick and Free Ways to Hire

1) Use Facebook Groups. There are many startup groups that support hiring efforts.

2) Approach through LinkedIn. Search for and select people you find appropriate. Add them and then send them a LinkedIn message.

3) Extract Details from Naukri. Download bulk details of candidates and send them an email together to save time and money.

Regards, Allan Fernandes

Ways to Decrease Cost Per Hire and Increase Quality of Hire

There are many ways to decrease the cost per hire and increase the quality of hire. The company I work for loves to do video interviews because they save a lot of time and money, and you can easily choose the most qualified candidates quickly. We use VidCruiter at http://www.vidcruiter.com/video-interviewing. It's extremely user-friendly. I would definitely recommend it!

Employee Referral Systems

Another way businesses are saving money while hiring better candidates is with employee referral systems. Birds of a feather flock together. By encouraging your employees to refer their friends, in theory, you should be receiving great, quality leads for new hires.