Lowering The Average Cost Per Hire Of It Talent
After all, deciding to look for more candidates similar to these great outliers (as defined by an original set of candidate requirements) means more time sourcing, interviewing, background checking, etc. for more candidates, taking up additional staff time in the vetting and interviewing process.
Instead, an organization must be as specific as possible with what they seek, come to an internal consensus as to what those specifics are, and stick to them! Putting conscious effort into these early steps helps to rein in the average cost per hire down the road.
CONSIDER REMOTE EMPLOYEES
Broadening your view of available job seekers to include remote workers will automatically increase your candidate pool and attract top talent. With so many talented IT professionals out there, why limit your reach to a geographic region surrounding your physical location?
Considering remote employees will help you tap into a wealth of great workers that do not reside in your area and otherwise would have never considered your organization as a career destination. Likewise, even IT professionals that live within a commutable distance but loathe the idea of a morning/evening commute will suddenly be open to working for you from the comfort of their own home.
WORK HARD TO STREAMLINE YOUR HIRING PROCESS
With the average hire taking just 23 days in the IT sector (with the top candidates fielding offers just 10 days after dipping their toes into the search pool), you’re going to lose great pros if you dawdle. So if you’re shepherding a great IT candidate through several interviews and tons of paperwork, you’ll probably lose them, wasting your time and increasing your average cost per hire.
Decreasing the number of candidate-facing steps between the initial contact with a potential hire and extending an offer to them will go a long way in converting interviews into employees.
COMMUNICATION IS EVERYTHING
Given these statistics, it is drastically important to work hard to keep candidates in the loop regarding when a hiring decision will be made. Candidates understand that decisions can be delayed, but keeping quiet about it only hurts brands, resulting in a candidate taking another job offer and spiking the average cost per hire.
CONSIDER CONTINGENT OFFERS
If you’re at all seriously interested in a job candidate, don’t wait; make an offer and provide a start date. Just be clear that the offer is contingent on the candidate passing background, security, reference, and any other applicable checks.
This may create a sense of vulnerability, but it’s important to remember that any offer is only truly an offer if all the necessary checks are passed. As long as this is clear in the beginning, contingent offers are a no-risk way of keeping a talented IT professional interested while the necessary paperwork is being completed.
THINK ABOUT PRACTICING “PRIOR TO NEED” HIRING
Take the time to forecast turnover, retirements, future needs, etc. so that you can find and hire replacements immediately when predicted opportunities come up. Attending networking events, maintaining a professional relationship with industry acquaintances, and keeping track of potential fits for your organization can go a long way in helping expedite your hiring / candidate search process.
USE STAFFING FIRMS TO LOWER THE AVERAGE COST PER HIRE
With so many other priorities on your plate, sometimes keeping the entire hiring process internal is too taxing on your organization’s resources, even if all the above recommendations have been put into motion.
EdgeLink has a deep pool of great IT pros who have been vetted and interviewed, and are practically ready at a moment’s notice. Plus, we help our clients finalize requirements before pursuing any candidates. If you need to hire quickly, contact us and we’ll get on your recruiting request immediately.
