In today’s tight job market, revamping your recruitment strategy can help your company stay competitive and navigate the hiring process more efficiently. Here are five ways to boost your recruitment strategy in 2020:

1. Create an employee referral program.

Drawing from your employees’ personal and professional contacts automatically expands the hiring pool from which you can draw. To sweeten the deal, offer a cash bonus to employees whose references resulted in new hires. No matter how you compensate your employees for the tips, you’ll still spend less than you would if you started from scratch with the costs of an external hiring team, job board postings and the like. These hiring costs can be daunting: A study by the Society for Human Resource Management (SRHM) found that the average cost to hire an employee is $4,129, with around 42 days to fill a position. 

2. Focus on the passive applicant.

Your recruitment strategy should include keeping your hiring antenna alert for talented people who may not be actively looking for a new job—but who would be interested if one presented itself. In fact, a 2018 survey of workers found that about half of all workers should be considered passive candidates. Turn passive into active by thinking recruitment when you network at industry conferences, collecting business cards and LinkedIn contacts wherever you travel, and sending quarterly check-in emails to professional connections to gauge if they might be ready to move on to a new opportunity. Suggest to your C-suite that they keep their eyes and ears out, too, for interesting potential applicants who might be dissatisfied in their present organizations.

3. Consider applicants from previous searches.

Perhaps a previous job posting yielded a pool of great candidates who would fit in well with your organization, but they didn’t make the final cut for one reason or another. Look back at those candidates to fill a similar role or in case your first choice doesn’t work out. Perhaps their experience wasn’t quite right for an earlier position, but it could be more aligned with your needs now.

4. Reach out to previous employees you admire.

Did an employee who worked for your company before leave on good terms, but is now seeking a new job? Then they may be just the right person to rejoin your company in a new role. Looking back might seem like a strange recruitment strategy, but these candidates’ time away from your company will bring new skills and experience that you can take advantage of, and you won’t have to spend a lot of time training or onboarding them—they already know the lay of the land!

5. Update your communication tools.

For faster response time and easier scheduling, evolve your recruitment strategy so that you can connect via text, chat or social media direct messaging with job seekers. In a survey from Jobvite, a recruiting technology company, 43% of respondents have texted candidates and applicants, and 88% report positive feedback. “Recruiters and job seekers both value their time, so the need for faster hiring has made text message and chat even more important than the traditional communication channels like e-mail or phone calls,” Amy Warner, director of talent acquisition at recruitment software company iCIMS, told SHRM.

Need help honing your recruitment strategy in 2020? In addition to outsourced human resources and accounting services, XMI offers a suite of recruitment solutions—all delivered with an unmatched level of care. Recruiting is hard work. Let’s make recruiting easy together. Call us today at 615-248-9255 or email info@xmigrowth.com.

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