Avoid burning cash flow with three hiring solutions

By Team Hireology,
September 13, 2014

Feeling empty inside?


Sorry, I was speaking to your company’s bank account, not you-but I hope you’re doing well!

Recruiting is never easy, especially if you’re doing so on a tight budget. How are you suppose to find the right candidates if you don’t have the money to post on certain job boards or are limited to conducting only a few interviews? It’s a perplexing task to tackle; yet it’s not impossible.

There are numerous ways to attract and obtain qualified candidates on a budget. Nevertheless, there are only three simple approaches you should take if you want to make the right hiring solutions without spending a Scrooge McDuck pool-load of money.

Post On Your Own

You don’t always need the big name job boards to find a candidate. Sometimes, it’s as simple as posting your open positions on your own social media sites. There’s a good chance candidates will be looking at your websites if they’re trying to get a job within your industry.

Posting on your own sites will allow candidates to get a better sense of your company’s culture, as well as give you a direct channel to connect with those same candidates. Plus, it makes you look good. If you’re proud of your company and its workplace environment, brag about it! Young professionals want to work in these type of cultures, so if you show it on your site, they’re more than likely to come knocking on your door.

Get An Intern 

Isn’t cheap labor just the best? Ok, so that’s not how you’re supposed to talk about interns, but in all honesty-hire an intern! Interns have plenty to offer your business in a relatively short amount of time, for very little money.

Interns usually bring that extra energy your company might be looking for, including creative thinking and the willingness to learn. Hiring an intern is like giving back to the community. We’ve all been there before, whether it was for college credit or the opportunity to land a job. So pay back the people who once helped you out by hiring an intern. You’ll be glad you didÉand so will your bank account.

Avoid Turnover

So this point is somewhat obvious, right? As much as most employers want to avoid having their employees leave after a short period of time, it happens more than you would think. According to a U.S. economics report from the Bureau of Labor Statics, ‘there were 4.6 million separations in July and the rate was 3.3 percent.’ The aforementioned ‘separations’ means any reason for a turnover, such as an employee quitting, firing, layoffs, etc. The point to take from here is that turnover happens all the time in our economy, but it can be avoided. 

Turnover also costs the employer money, so how can you evade bad employees? It’s simple really. All you have to do is make better assessments of your candidates. There are many ways to do this, but the most traditional are typically doing phone screens before interviews, conducting personality tests and running background checks.

You might need to spend some money with this process, but in the long run you’ll be saving more money. Do this and you’ll lower the risk of hiring someone you’ll eventually regret.

Need more hiring solutions to work with your budget? Take a look at our complimentary eBook for more help!

About the Author

Subscribe to our weekly newsletter and learn how to build your best team.