The art of finding and employing talent has never been more awash with choice of methods, technologies and media. The average business is now empowered like never to speed up their hiring process, be more targeted in their search and more accurate with attraction techniques.
Hiring continues to be an expensive practice for most verticals.
Despite the growth of social recruitment and B2B engagement sites like Linkedin.corn and Google.There remains a heavy reliance on advertising to achieve results. For most businesses, advertising costs are only the tip of the hiring iceberg.
The bigger and more complex a company is, the higher the risk of cost spirals due to talent gaps, internal process delays, internal structuring, salary alignment and so on.
The future might be in more flexible outsourced models such as Recruitment As A Service ( RAAS) that take hidden costs out of the hiring process, reduce agency spend and reduce internal recruitment overheads.
As technology continues to provide more tools to find talent, the requirements of businesses move more towards service-based models. By working with flexible outsourcing models such as Recruitment As A Service ( RAAS), businesses can pre-cost their hiring process, advertising and early stage interviewing, leaving only final interview decisions with the HR and hiring managers.
This can reap long term benefits not only on the talent acquisition bottom line, but also in the productivity of all staff involved.