A common challenge that most Recruitment professionals have is how to justify the Cost Per Hire while ensuring that the quality of hired talent does not diminish when the focus is more on reducing CPH. When you are into Recruitment this is of the utmost importance for Talent Acquisitionist’s across organisations, primarily as we are answerable to the CFO at the end of the day. Therefore, knowing where you can cut corners to fit in to the prescribed budget is a challenge when on boarding talented folks isn’t easy to come by nor is retaining them. Unless you have a crisp understanding of what CPH is and what metrics can be used to know approximately how much the entire hiring process costs you is paramount to developing a cost friendly hiring strategy that meets the specific requirements.
Being in to the recruitment fraternity; we @SourcingADDA, a Talent Acquisition community, try our level best to keep our members up to date with the current developments in the industry that we so enjoy. And having such proactive members makes it even more fun to learn and improve as a closely knit community. With that realisation in mind; one of our Bangalore group member’s Omar had suggested we discuss about, the Metrics used in Recruiting: Cost per Hire. Where we consider the time taken right from the source up to the hire stage and how can we make the process more effective and efficient? For our fellow Talent Acquisitionist’s alike. The responses we received right from the Trendsetters desk gives us a much better outlook towards commonly visited topics, challenges faced and the possible solutions to overcome these difficulties. To which you too have access to in the views expressed below
The perspectives shared above portray a realistic picture giving us a fair idea of what areas may require tweaks to deliver the results we as Talent Acquisitionists wish to achieve. With a clear understanding of the CPH we will be able to create effective hiring strategies that cater to the said requirements and be able to reduce the CPH wherever applicable. And so we can ensure that the quality of hires is maintained within the budget prescribed by the CFO.
Additionally, if you are interested in knowing more about some of our other discussion then the WhatsApp Group Chat Reasons and Solutions to reduce IT Candidate’s Offer Acceptance & backing-out ratio might be a good read to rethink on your next hiring strategy. And if you wish to hire at scale then be sure to join us on WhatsApp and get more involved by
- Following us @Sourcingadda for real time updates to our upcoming activities and events
- a) Leaving your views or requests to join these groups in our comments section below
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b) DM us to @Sourcingadda with your name, WhatsApp. Contact no. and location
Where one of our representatives will get back to you at the earliest or you can be proactive and register yourselves immediately to stay abreast in the latest recruitment trends. Become a part of the recruitment community as it is the best place to remain tuned to the latest developments within the recruitment fraternity. The platform is one where you are sure to get live insights from thought leaders within the recruitment sphere. The inputs thus shared are by trend setters that cater to the obvious challenges faced with live solutions to help you achieve your organisational or individual goals. You can leverage the opportunity to build connections and grow your referral pipeline or up-grade your candidate sourcing skills to capture exceptional and potential talent at scale.
