The need for organizations to find and recruit quality talent isn’t going anywhere. In fact, US spending on talent acquisition alone went up 6% in 2011. So what can you do to meet your recruiting needs while reducing the associated costs? Try these tips for tackling the high cost of recruiting!

1. TACKLING THE HIGH
COST OF RECRUITING

2. Recruiting costs a lot,
but you can’t win with
second rate talent.

3. Here are some top tips
for reducing your recruiting cost…

4. 1. Assess value, not cost.
By far the biggest cost of
recruiting is hiring poor
performers.
Assessing the quality of hire is
the right play every time.
And, once you have good
employees on your team…
Download Top 10 Ways to
Reduce Recruiting Costs

5. 2. Go all out to improve retention.
You don’t have to blow your budget hiring new talent if your
top teams stick around.

6. There is nothing more
painful than watching
skilled recruiters waste
time with lousy
recruitment software.
Get them the right tool
to do the job right.
Don’t lose the talent
acquisition battle on a
technicality.
Download Top 10 Ways to
Reduce Recruiting Costs

7. 4. Scout out new sourcing technology.
No area of recruiting is as volatile as sourcing – it
changes all the time. It’s important to check out all the
latest techniques. Don’t let the pressures of today stop
you from looking for new and better sourcing for
tomorrow.

8. 5. Consider bringing
executive search in-house.
Don’t confuse executive search with
everyday recruiting. You will need a
different kind of recruiter and you will
need to compensate him or her
differently.
Doing it right may cost more upfront, but
you’ll save yourself money and
headaches in the long run.
Download Top 10 Ways to
Reduce Recruiting Costs

9. 58%
Did you know that internal sources produce 58% of new hires,
compared to 42% obtained from external sources?*
That’s why you should continuously…
Recruitment Marketing Effectiveness: Meaningful Metrics Straight From the Source, SilkRoad, cited at
http://humanresources.about.com/od/sourcing/qt/what-works-in-employee-recruitment.htm, visited 4/29/14.

10. 6. Build up your employee referrals.
Research shows employee
referrals are one of the best ways
to find high performers – and one
of the most cost-effective ways to
recruit talent.
Make sure your employee referral
program really stacks up.

11. 7. Bring onboarding on-board.
Employee onboarding software
should facilitate a seamless transition
from being hired to being a happily
integrated new member of the team.
If that’s not what you’re seeing on the
field, perhaps bring onboarding under
recruitment.
Download Top 10 Ways to
Reduce Recruiting Costs

12. 8. Identify the winners upfront.
When recruitment software includes top-notch assessment tools, you save
money by speeding up the process and improving selection.

13. 9. Consider adding outsourcing to your
game plan.
Download Top 10 Ways to
Reduce Recruiting Costs

14. If your hiring needs are inconsistent, it
can be hard to determine your recruiting
department line up.
Recruitment process outsourcing can
help – but only if you do it to get a better
overall outcome. It’s not a play to save
money.

15. And finally, one of the most cost-effective
(and fun!) ways to lower recruiting costs and
build team spirit…

16. 10. Get social!

17. Twitter, Facebook and LinkedIn
are inexpensive tools for getting the word out, cheering on your
employment brand, advertising openings, and finding candidates
who may be sitting this one out.

18. “Talent hits a target
no one else can hit.
Genius hits a target
no one else can see.”
Arthur Shopenhauer

19. About SilkRoad
SilkRoad® is a leading global provider of
cloud-based, end-to-end talent
management solutions that enable
customers to find, attract, develop, and
retain the best talent. The award-winning
SilkRoad® Life Suite® includes Talent
Acquisition, Talent Development, and
HRMS solutions that are delivered through
a Talent Portal to drive greater
engagement, collaboration, and user
adoption. The suite is easy to deploy, easy
to use, and affordable for businesses of
every size. Visit www.silkroad.com for
more information.
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20. Go Team!!
Thank you.
Download Top 10 Ways to
Reduce Recruiting Costs