The beginner’s guide to get top talent on a budget

The beginner’s guide to get top talent on a budget

It’s an accepted norm that the greatest asset for any organisation is their human resources. With prevailing economic conditions, one can easily say that there is no shortage in the labor supply. But the point to ponder upon is to attain the most talented and hardworking bunch.

This tends to be comparatively easier and affordable for established companies to hire top talent, but whereas small startups might struggle to meet their staffing needs in a way that is affordable. This can be considered as the beginning of the battle between HR and Finance departments.

 So if you’re running a smaller company with fewer resources, you may need to get a little bit creative about hiring so that you find talented employees that won’t cost you too much.

  1. Consider the type of employment you’re offering

Hiring a full time staff member is not likely to be the least expensive way to go. At present freelance employees are turning out to be more handy and practical. Often in the long run they tend to be more affordable to hire as it doesn’t involve recruitment costs and additional benefits such as compensation insurance or full health benefits. Also, you don’t have to worry about withholding taxes from employee paychecks for freelance employees. This can cut down on your administrative costs too.

Part time and freelance employees requires less of a commitment from both your employees and your company. Freelance work can just be offered temporarily so that you can try out employees before deciding whether you want to hire them on full time or not.

Tip: Explore a broader scope of talent by getting on to platforms such as fiverr that gives you access to a variety of freelancers to suit your preference as and you’re good to go.

  1. Cut down on your hiring cost

The recruitment process can be a tedious process with numerous tasks which can be both expensive and time consuming. With processes becoming simpler with technology, why not take the maximum out of it.

First, you can use online recruiting options like hiring websites to quickly target the employees that have the experience that your position requires. Also, you can handle communication with prospective employees online through e-mail rather than in-person whenever possible. Also consider conducting interviews using online tools like Skype, which provides the convenience of virtual meetups that barely takes up any costs and can be done anytime anywhere. This means you won’t have to set time aside and put more effort than necessary into scheduling.

  1. It’s time to get your word out and use your connections

Networks and connections come extremely handy no matter what the task is. Hence why not use it to find your potential employees. The more people you know and the larger your network is, the better off you’ll be.

Simply talking to people you know and letting them know about your staffing needs is very helpful. This provides you with word-of-mouth advertising for your open positions which is one of the most effective and powerful tool.

One highly important resource to tap when finding prospective employees through your network is your existing employees. Make sure you recruit your employees to help you find others who might be interested in similar positions. Your employees can put in a good word for your company and express their enthusiasm in working for you.

Tip: This is where employer and employee branding can come in handy.

  1. Focus on providing learning opportunities

According to research it can identified that many millennials tend to select job opportunities that provide them a good learning environment that could benefit them in the long run. Hence try thinking of ways you can provide employees with free training on profitable skills that would motive them to work even if the pay isn’t fancy.

Think about what learning opportunities you can offer to ambitious employees. Employees who value learning opportunities are going to be the kind of employees you want for your company. This is especially true if you have a small and growing company because your employees can grow with you.

Make sure that you let applicants know what they stand to learn from working with you. Avoid putting across the impression that you’re just hiring employees for one simple task and that there will be no room for growth at your company.

  1. Stand out by with unique perks

Health benefits have turned out to be the most commonly provided perks by many organisations. As much as individuals highly appreciate and look forward to these, health insurance is not the only highly valued benefit you can offer. You can also provide other perks like employee social events and comfortable work facilities. Let applicants know if you offer performance bonuses or commission in addition to a base salary so that prospective employees are aware of all of the potential a position at your company offers.

 

If you’re looking for affordable staffing solutions for your company, you should focus on what your prospective employees are looking for in addition to money. Keep in mind that salary is not the only thing employees want and need. You can attract top talent by offering advantages such as rewarding work, a great company culture, free training opportunities, and good benefits. Give employees benefits and extras that they can’t have with the higher paying jobs out there and you may be surprised at how affordable it can be to find talented people.

 

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