So you’ve got a vacancy to fill but you’re on a tight budget? Look no further! We have compiled this handy little guide to help you discover the cheapest recruitment solution for you.
There are three main options when it comes to low cost recruitment:
- Recruitment Agencies – they work with both companies and candidates, and Recruitment Consultants tend to specialise in one industry, meaning that they can find the best candidates to fill your role.
- Job Board Advertising – by posting your job directly onto job boards hopefully perfect candidates will find your vacancy and apply for it, then after assessing your applications you can interview the best ones and hire them.
- Flat Fee Recruitment – this is a middle ground between the other two options, where the Recruiter will optimise your advert, post it onto various job boards, and then screen the applications as they come in in order to provide you with the best candidates.
These three recruitment solutions also come at different prices, meaning that depending on your budget you may be able to narrow it down to one suitable low cost recruitment service:
- Recruitment Agencies – by using this service, you will be subject to a commission fee which tends to be around 15%, and is charged per candidate hired. This means that if you hire 10 candidates, your recruitment process will be pretty pricey.
- Job Board Advertising – the price for this will differ between different job boards, and depending on whether or not you advertise your advert branded or unbranded. For example, Totaljobs charge £149 for a 28 day branded campaign.
- Flat Fee Recruitment – in terms of price, the clue is in the title as you pay *drumroll please* one flat fee. This means that you can hire 1 candidate or 50, and you never have to pay any more than the original cost. In terms of budget, flat fee recruitment is arguably your best option for low cost recruitment.
One main factor to consider (other than cost) when it comes to your low cost recruitment solutions is your role.
If your position is ridiculously specialist, needing a specific degree and 5+ years’ experience, you may need to use a Recruitment Agency in order to find your perfect candidate. However, if you are looking to recruit a Sales Executive in central London, you are almost guaranteed to find your dream candidates by using Flat Fee Recruitment or Job Board Advertising.
This leads me on to the location of your role. If it is in a city, like London or Birmingham, you’re more likely to receive lots of applications from Flat Fee Recruitment or Job Board Advertising than if your role is in the middle of nowhere.
After reading this I hope that you have decided on which method of low cost recruitment is right for you. If not, we have another blog post which delves further into your options in terms of recruitment solutions.
Also, we are now offering free recruitment consultations, where we offer you our advice on the right solution for you – no strings attached!