Hiring on a small budget is a challenge, especially when there are large companies and emerging startups with attractive offers, ready to spend money on expensive recruitment software, recruitment databases and expert staffing agencies. You will need some clever hiring tips to maximise your chances of hiring top talent without a high budget.
This blog will share the most influential startup hiring tips you must use to overcome challenges due to a small budget.
1. Maximise your social media presence
According to a Glassdoor report, 79% of job seekers use social media in their job search. Candidates come across a great deal of information about your company on social media, your official website and blogs before they apply.
Optimise your company’s social media and web presence. Develop a content strategy to tell amusing stories, share posts, images and videos to showcase company culture.
2. Utilise benefits of affordable recruitment software
Manually doing everything is time consuming and can become messy. Recruiters, thus, struggle with their hiring process and fail to improve it. It increases their time spent in hiring and the hiring costs.
Write down problems you are facing and want the recruitment software to solve. It will help you identify the tool which is affordable and can address the unique challenges of your recruitment process. There are so many free and affordable softwares with features to simplify the end-to-end hiring process. PyjamaHR ATS is one such free softwares to simplify the hiring process and maintain its effectiveness.
3. Track and improve hiring metrics
Tracking the hiring metrics is important when hiring on a budget. To ensure your recruitment strategy of hiring on a low budget is working, track metrics like:
- Cost per hire
- Time to hire
- Offer acceptance rate
It ensures that you are using the right channels to source candidates, taking less time to hire, your offer acceptance rate is high and you are not spending more than your budget.
4. Hire people with versatile skill sets
One of the best ways to hire on a small budget is to look for people with versatile skills. People with skill across more than one discipline can help you by performing several roles. For example, you might consider hiring a product manager, good enough to take up communication and marketing roles. You do not have to hire specialists for each role. It will save you plenty of money spent on payroll and hiring costs.
Use the above tips to get the right message to the right candidate. Reach out to candidates with versatile skills and offer salaries and benefits they deserve. Use recruitment software and track metrics for data-driven hiring. You will be able to hire the right candidates that your company needs without spending a lot of money.