How to Recruit Top Talent on a Small Budget

Here’s a surprise; it’s actually not necessary to spend boatloads of money on your staffing needs. Even if you’re working with a shoestring budget, it’s still possible to snag the best candidates for your positions, while beating out the competition. All it takes is knowing how to maximize the tools, strategies and software that you already have on hand.

With the increased costs of advertising on major job boards, many recruiting and staffing agencies are now hitting the drawing board to plan different approaches that will attract candidates. There are plenty of cost-effective ways to do this—from maintaining a strong presence on social media to effectively using your applicant tracking system (ATS). Discover more below:

Ask for Candidate Referrals

The good ol’ referral is still one of the most effective ways to recruit top talent—and it doesn’t cost a penny. Survey findings from Monster show that 65% of respondents would consider an opportunity for a new job if they learn about it from someone they know.  In order to get candidate referrals, you’ll have to be mindful of how you ask for them. Rather than asking every candidate you know to refer you to their network, try taking a more thought-out approach.

After working with a candidate, send them a follow-up message a few days later to ask for feedback on your service. This is standard practice and is likely to be well received. It’s also a great opportunity to see if there’s an area that you can improve on.

However, if the candidate gives you a shining review, it’s a good time to ask whether they know of any friends who are currently looking for work. People will be more inclined to recommend you to their network if you deliver a great candidate experience. Be sure to nurture each and every relationship.

Pinpoint Passive Candidates in Your Applicant Tracking System

Since your applicant tracking system is rich with data, it offers ample resources. Don’t just leave it sitting there—use it to your advantage! As a recruiter, you may be connecting with, and communicating with hundreds of candidates every month. In an ideal world, every single candidate you connect with will be the right match for your jobs, but that’s unfortunately not reality. This doesn’t mean that they won’t be useful further down the line!

While some of them may not have been interested in making a career move in the past, you won’t know if they’re open to a new opportunity until you reach out and ask. Be sure to take detailed notes in your applicant tracking system during each candidate interaction. This will help you instantly search important information in your database, which will in turn allow you place top talent into roles quicker. By keeping an updated and organized applicant tracking system, you’ll have access to individuals that you may not have otherwise considered for the job.

Build and Maintain Your Brand on Social Media

If you haven’t seriously considered social recruiting as a strategy yet, it’s time to revisit the option. As job seekers head online to look for new opportunities, it’s in your best interest to be where your candidates are spending their time on. In fact, survey findings have shown that 14% of recent hires found their current role on social media.

In today’s candidate-driven job market, it’s more important than ever to stand out in the eyes of potential employees. One way to grab their attention is by creating and sharing interesting content that’s relevant to them.

Today, more staffing and recruiting agencies understand how social media can play a critical role in growing their business—and it’s been proven to pay off. The Society for Human Resource Management’s study revealed that 82% of organizations are active on social media to recruit passive job candidates.

Provide an Unbeatable Candidate Experience

Since candidates have plenty of opportunities to choose from today, being proactive will help you stand out from the rest of the pack. For example, many candidates want to know what the next steps are after they complete an interview. Share key dates and information about the hiring timeline in your follow-up communication to keep the candidate excited and engaged.

Better yet, if you already know this information, share it with the candidate in your initial meeting. This will help them understand the urgency of the role and disincline them from searching elsewhere. This rapport also shows candidates that you’re considerate of their time and schedule.

When they don’t hear back for long periods of time (or even at all), they’ll just move along to the next opportunity. Business moves fast in this day-and-age, and the candidate can’t be faulted for assuming that the agreement isn’t going to move forward. Instead of pushing them into the throes of your competition, focus on providing a candidate experience that they wouldn’t get from anybody else.

It’s Time to Re-strategize

It’s possible to attract the best candidates out there, even on a tight budget. Rather than spending your whole budget on job board advertisements, consider some of these cost-effective recruiting strategies. In order to get the results you want, sometimes all you need is to mix up your recruiting approaches.

Do you need more information on how our applicant tracking system can help you make more placements? Get in touch with us.

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