Searching for the best candidates to fill your open positions is not only time-consuming, but expensive. In fact research has shown that the average cost per hire comes to $4,700 per person – taking 36 to 42 days to fill a position on average.
That’s a lot of time and money – especially if hiring managers will be filling a large number of positions over the course of a year.
Hiring new employees with the appropriate experiences and qualifications is essential to the continued success and profitability of a company. But many times employers start an all-new job search when they’ve already talked to candidates that have applied in the past. And that’s where you may find the person that’s perfect for your next hire. Here are three examples of how to find those hidden gems.
Streamline your Database
Perhaps you have a database, and you enter your info manually. It’s worked for years, right? But do you always remember to enter every detail? Data entry eats up time and often paints an incomplete picture. To streamline the process, many companies have started using applicant tracking systems (ATS).
An ATS is a computer software program that manages the hiring process. It does this by collecting and sorting thousands of resumes. Hiring managers can then source candidates past and present using the ATS. If your database is stocked with accurate information about high-quality candidates, you’ll be well-positioned to make more placements in less time.
Use your ATS to Reconnect with Past Candidates
For many companies, re-engaging candidates is a missed opportunity. Even though nearly all employers believe that reconnecting with candidates will help them build their talent pool, fewer than half reach out to declined candidates.
An ATS is a great way to leverage your team’s past efforts by beginning every search with the candidates your team has already met. A prior candidate that wasn’t hired for a particular position a year ago might be open to new opportunities today. Or maybe a jobseeker that wasn’t the right fit for a previous role is perfect for a different opening. Either way, you won’t know unless you take full advantage of your database.
This strategy comes with an added bonus: The candidates who have applied in the past have a preexisting relationship with your company. They were clearly interested in what you had to offer and may be excited to talk with you again.
Leverage your Current Employees
When it comes to streamlining a job search, an employee referral program is an excellent source for filling open positions.
Employee referrals are a way of leveraging the existing staff in an organization to help identify and recruit quality talent. These referrals have proven to be one of the best ways of sourcing, helping to fill positions with “pre-recommended” talent that possess the right critical skills and cultural fit. It opens the door to current employees working in different departments who may be interested in a new opportunity.
Inter-Connect is a free permanent, temporary and temp-to-hire placement service agency that partners with companies throughout the Illinois, Missouri and Iowa Tri-State region. As experienced staffing experts we understand the challenges in finding great people and have the professional resources necessary to identify the right candidates for your needs. To learn more, contact us today.