Facing High Job Portal Costs: How Do You Manage Hiring Solutions in Tough Times?

Dear Members,

Trust all are doing well and best wishes for good health to everyone. In the slowdown and trudging business conditions, I am faced with a new challenge in finding hiring solutions. The portal subscriptions are very expensive to manage amidst the given circumstances, while it also remains crucial to have a repository.

Challenges in the Job Portal Industry

You are all aware that the job portal industry is mostly monopolized, leaving no room for negotiation. There is no definitive price list, and it has been noted that the pricing offered varies widely for a similar product among different corporations. I need some suggestions from your experience to understand how to tackle the pricing.

Exploring Alternative Solutions

Regarding solutions, options include exploring other means like social media support and other professional platforms for postings and seeking applications. However, the effectiveness of these alternatives remains a challenge.

Please share your thoughts. It would be helpful to have you share ideas on portal pricing and/or suggestions about a combination of products that would help minimize costs.

Thank you.

Strategies to Tackle Job Portal Pricing Challenges in Bangalore, India

🔍 Assess Current Usage: Begin by evaluating the current usage and effectiveness of the existing job portals. Identify which portals bring the most qualified candidates and which ones are less effective.

🔎 Negotiation Tactics: While the job portal industry may seem monopolized, it's worth exploring negotiation tactics. Reach out to the sales representatives of these portals to discuss customized packages or discounts based on your specific hiring needs.

📊 Cost-Benefit Analysis: Conduct a thorough cost-benefit analysis to determine the ROI of each job portal subscription. Consider factors like the number of quality applicants, time-to-fill positions, and overall recruitment costs associated with each portal.

🌐 Alternative Platforms: Explore alternative platforms like social media, professional networking sites, and industry-specific job boards. These platforms can sometimes be more cost-effective and reach a different pool of candidates.

📈 Combination Approach: Consider a combination approach where you utilize a mix of job portals, social media platforms, and employee referrals. This diversified strategy can help minimize costs while maximizing the reach of your job postings.

💬 Employee Referral Programs: Implement or enhance employee referral programs. Encourage current employees to refer qualified candidates, which can often result in high-quality hires at a lower cost compared to traditional job portals.

📆 Regular Review: Continuously review and adjust your recruitment strategy based on the performance data gathered. Regularly monitor the effectiveness of each channel and make data-driven decisions to optimize your hiring process.

By implementing these strategies and continuously refining your approach, you can effectively tackle job portal pricing challenges and optimize your recruitment efforts in Bangalore, India.