Companies who recruit talent managers are making cost savings, not only are they reducing their recruitment costs they are able to appoint staff with ease; well, my peers tell me it’s not always that easy but by appointing strong talent managers you’ll lower your costs per hire & build the foundations for successful recruitment.
Below is an overview of work that you can expect talent managers to do and insight on how they can help you save money.
The hiring process can be the first impression a candidate has of your company and by building a strong company brand and investing in a talent manager you will make cost savings if they help you achieve the following:
- Direct Recruitment – will become easier as candidates will find you, you are less reliant on recruitment agencies.
- A great first impression – candidates are more likely to commit to your company, meaning you will spend less time looking for candidates and more time engaged with the candidates help you run effective campaigns.
- Increased desire – a strong employer brand will mean money won’t be the main driver for people wanting to work for your company which will help you manage salary costs across the business.
- Less rejected offers – If you get it right from the start and the process has been excellent your percentage of offers to placements will increase significantly meaning you won’t have to start the recruitment process again!
A Talent Manager will work with all the stakeholders to help the company sell the vision, values and opportunities throughout the company. Every point for your candidates must understand the value of employer branding and candidate experience. It is the Talent Manager’s job to work across the business, ensuring there is a cohesive message.
The Talent Manager needs to create job descriptions and consider the types of candidates that you wish to engage with – by doing this they alleviate your employees of this and help the business be more productive.
Whilst strong candidate experience doesn’t directly reduce recruitment costs it enables your company to be more efficient.
Preferred Supplier List implementation and management
By having a strong and effective supply chain you’ll be able to manage costs and minimize spend, a talent manager can help implement and manage a PSL.
Some of the benefits are:
- It can improve a company’s time to hire
- Increase the quality of the candidates being delivered to you.
- Improve relationships with recruitment agencies and make them advocates of your business.
- Implement KPI’s to performance manage recruitment suppliers.
- Reduce overall cost.
- Improve governmental compliance when tied into a strict SLA.
- Reduce company time spent on recruitment.
Recruiting a talent manager to build your PSL will enable your recruitment function to be more efficient. By having an efficient HR function, you will have a resource that is solely focussed on recruitment effectiveness which, when done correctly, will enable you to employ better candidates on time and within budget – great cost savings are possible.
Your reliance on third parties will reduce and direct recruitment will increase due by implementing structured processes such as a preferred list of suppliers.
Preferred suppliers will be more engaged and the need to work with agencies out of our your PSL becomes less or not at all. This too is a great way to reduce costs.
Simply you can recruit for free! If your talent manager gets it right you will be able to maximise the success of your direct recruiting strategy and can reduce recruitment costs easily by recruiting through social channels.
By having a recruitment strategy which encompasses LinkedIn, Facebook and Twitter you will not only save money but you can market your business, you have a free network of candidates and a way to promote jobs for free.
Deciding which job boards are most appropriate for your business is a vital ingredient for successful recruitment and helps with direct recruitment efforts.
It’s a competitive space; so, you can expect your talent manager to understand what each company offers and how they compare.
Job Board Resellers
Working with job board resellers is a great way to work with all the leading job boards in one process and probably will help you achieve the best ROI when working with job boards.
They enable you to post any requirement across the leading and niche job boards in one process. Your job advert is placed on hundreds of job boards for a low fixed cost fee, saving you significant monies compared to working with job boards individually.
Your talent manager will be able to help you research the market to find which companies offer the best package, which companies offer the most comprehensive and transparent service that offers the best price and the best ROI.
Recruitment technology can transform the way you recruit. Applicant Tracking Systems (ATS) facilitate efficiency and lower the cost to hire. They enable you to distribute your job description across all job boards and social platforms too.
By selecting the right system or using one for free a Talent Manager will be able to help you reduce your costs by:
- Accessing candidates for free across job board aggregators & some job sites.
- Drive a more efficient process by engaging with a large volume of candidates.
- Automate your processes.
- Create a shared place to work.
- ‘Talent pool’ candidates for future requirements, allowing you to recruit for free in the future.
If you work for a company that wants to streamline its recruitment process, lower recruitment costs and reduce the time it takes to recruit then, providing the business intends to recruit enough employees to warrant the cost, it is a logical step to hire a Talent Manager.