Reducing costs not only positively affects the financial result of the enterprise, but also allows you to free up money that can be invested in the development of production. Additionally, reducing cash costs improves the competitiveness of the enterprise.
In general, the process of minimizing costs is a constant process, which involves the continuous work of the enterprise to optimize the expenditure side. You should not rely on the fact that once developed and even implemented a cost optimization policy will be a salvation for the enterprise for many years.
The key to the successful operation of the enterprise is the constant work to optimize the consumables, which should take place in parallel in several directions:
- accurate planning and rationing of the company’s cash expenditures, implying constant adjustments and establishing the frequency of drawing up plans or budgets (daily; weekly, monthly, quarterly, annually, etc.);
- monitoring the implementation of plans, identifying deviations and the reasons for their occurrence;
- development of a cost optimization policy taking into account the results of a plan-factual analysis of the execution of budgets (plans) by cost items.
But in this article, we would like to consider 10 ways to decrease your hiring costs. Instead of “reduce hiring costs,” they sometimes say “optimize hiring costs.” The meaning of the task does not change, it is often posed to managers of personnel services and economists. Of course, it is more pleasant to discuss an increase in the budget for personnel, but not everyone has such positive work.
But if you care about your employees, then you should take working capital loans to create a favorable working atmosphere. After all, it has long been a known fact that the more pleasant the working conditions, the better and more diligent employees work. For any kind of loan, you should contact a trusted organization and the company GetCash is just that. Only on mutually beneficial conditions is cooperation built.
So, this article is filled with invaluable practical tips that will help you understand and easily put into practice the intricacies of the art of finding the right people. Nowadays, the more creative you are, the more you can draw attention to yourself while not investing too much money. So let’s look at these ways already.
Your former employees.
Former employees who left on their own will can be hired again. This has its advantages. Firstly, you already know these people and know how they work. Secondly, you will not need to train or re-train them in the workflow. Thus, you save money. They may also point you to other applicants.
Applicants who independently apply for work often have two qualities that speak in their favor. Firstly, they usually know something about your business, and secondly, they have an “inspired” sense of loyalty to the company. Such people must be registered for future work. This category of workers has one significant minus. It is unlikely that casual applicants will become a source of highly qualified employees or experienced professionals. But you do not spend much effort and money searching for them.
Professional and industry associations.
We have various associations of people on a professional basis. There are clubs of managers, agents, etc. As a rule, such associations have their websites on the Internet, and through them, you can reach people of interest to you and bring your need to their attention. Sometimes such clubs are organized in special magazines. This, again, will help you find a qualified employee while not spending the company’s money.
All universities, institutes, and advanced training courses, as a rule, have employment services for their graduates. They may help you solve your problems. If the teaching structure does not have such a service, then contact the teachers, as they are interested in their graduates getting a good job.
Your customers and suppliers.
Contact customers and suppliers for help regarding finding candidates for your job with specialized knowledge. They can help you with recruiting and create a good relationship.
State employment services.
Cooperation with them will help to choose a free specialist at present. Besides, several services located in the region may have a common data bank that is larger than the data bank of any commercial employment service.
Everyone knows that time is money. Therefore, a good contribution to saving your money will be to contact with such services. This way is good because such an agency carries out preliminary work to screen out unfit candidates and allows you to choose. It is even ready to examine candidates for the position and make recommendations. If you contact such an agency, you will have to deal not with the unemployed, but with people who want to change their jobs and simply want work.
Any conference or seminar in your field of activity is an occasion to look at specialists from other companies and take someone to note, to subsequently entice someone to work at you.
Advertising in professional magazines.
This method is good already because it allows you to reach real experts, experts in their field. Random people don’t read such magazines, and the fact that the candidate for the position found out about you from such a magazine indicates that he is serious about his career and is trying to keep abreast of the latest news in his field of activity.
Using modern technology.
In today’s world, almost all people live on the Internet and are always online. There are also professional social networks, such as LinkedIn, which simplify the work of HR-managers of all companies since they can quickly select the required members for the required position. But some services help the employer find the right employee.
Summarizing all of the above, we want to note that it is quite difficult to choose one of “yours” from hundreds of candidates. That is why it is so important in the current economic conditions to pay due attention to the personnel management service in the enterprise. Anyway, if your idea of recruitment methods before reading our article was limited to placing ads on job boards, it’s not surprising that using these “annoying sources” harmed the company and now the company needs to cut costs.
75% of all new employees come from online sources. Perhaps it is time to let in fresh blood. Therefore, why don’t you make an effort to establish cooperation with the marketing and branding departments of your company to determine the creative approaches that they can use to achieve the hiring of potential and qualified employees?!
The ultimate goal of implementing a recruitment system is to match the expectations of the candidate and the company. And our ways will help you optimize this process and achieve better results.
World practice and research show that even in the best firms, these coincidences of common goals coincide in no more than 30% of cases. The higher the match, the higher the degree of employee motivation and their suitability to consider the interests of the enterprise as their business. Therefore, one should strive to maximize the degree of coincidence of expectations.
A well-organized recruitment process is the first step to a company’s success in the market. It is necessary to select precisely such people who harmoniously fit into the team, who will be interested in work and close to the corporate culture of the company.