Hiring new employees can be a time-consuming and expensive process for any business, but there are several great ways to offset the cost of recruitment. Dealing with employee turnover presents many hidden costs to businesses, including a loss of productivity and necessary investments in recruiting services. However, by implementing these low-cost strategies, alongside consulting with recruitment management experts like Alex Gotch, your business can cut the cost of recruitment and coast through this transitional period with ease.
Network with Company Alumni
One of your greatest recruitment resources is your pool of former employees. Before spending on expensive recruiting services and other hiring expenses, try networking with company alumni. You may find a former employee who’s ready to come back to the company, or you might find ex-workers who can recommend ambitious new faces for your company. One of the biggest benefits of this strategy is the option of hiring through someone you know and trust, and the low cost of recruiting through alumni is a great added bonus.