How to Maximize Your Hiring Budget in 2014

December 27th, 2013

As the year winds down to its final days, do you have some leftover money in your hiring budget? Or do you expect funds to become available at the onset of the New Year?

Use those funds strategically and creatively. Now is an optimal time to target specific audiences and use innovative techniques to recruit the best talent and start 2014 off on a positive note.

Social Media

Applicable to virtually every demographic from new graduates through veteran professionals, social media will continue to play a key role in employee recruitment.

  • Create a “Work for Us” app. First of all, do you have a company Facebook page? If not, consider starting one and when you do, make this app a prominent feature. If necessary, allocate your HR dollars to enhancing your social media presence across the board – starting here. The Hard Rock Café added a “Work for Us” app and saw its fan base skyrocket from 0 to 1,000 in less than 24 hours and reach 6,100 in four days. This viral movement succeeded because the company recognized its influencers and the type of content they typically shared. The rest of the story? Hard Rock interviewed 1,000 candidates and hired 120, with a 95 percent acceptance rate. And, the entire campaign cost a total of $2,000, or $16 per hire. Happy New Year indeed!
  • Extend your social media reach. LinkedIn, Facebook and Twitter are important for sure. But there are dozens of other platforms out there that may work for you. For instance, consider creating a Pinterest board. Fill it with visuals that draw candidates to your company and promote your culture, innovation, social values and other attributes.

Involve Your Current Employees

Job candidates are more likely to trust first-hand accounts and recommendations from people they know. After all, wouldn’t you?

Hand pick employees who model what you’re looking for in an ideal new hire and make them your recruitment ambassadors. Think about these creative tactics:

  • Provide recruitment business cards. Each card carries the “now hiring” message as well as the employee’s contact information. You might want to add a line such as “Tell them _______ said you were awesome” where a potential candidate can write in the employee’s name.
  • Start a referral program. Provide rewards for employees who steer new hires to your company. You may want to start with smaller rewards at the time of hire, followed by larger ones at the point where a new hire has been onboard for a while, such as at the conclusion of their probationary period. After Quicken Loans introduced a similar program, they found that 64 percent of their new hires came from employee referrals.
  • Step up campus recruitment. January is a prime time for students approaching graduation to polish up their resumes, buy interview suits and start to think seriously about their futures. Send your star employees back to school. Visiting their alma maters to recruit for their company will enhance their morale and provide a winning liaison as they promote their company as a great place to launch a career.

If you’re in a position to leverage funds and hire the right talent for your company and its future, consider working with Select Group, Inc., to realize the optimal return on your dollar investment. Contact us today!

Comments are closed.