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Smart Hiring: How to Reduce Recruitment Costs Without Sacrificing Quality

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Consider this scenario: As a business owner, you just finished a grueling three-month hiring process – placing ads on numerous hiring platforms, sifting through dozens of applications, phone, and in-person interviews, onboarding, and training. Now, two weeks in, you find out the new hire isn’t a good match for your company. They are leaving, and you are once again sifting through applications and hoping that this next hire will be the one that works out.

A company’s recruitment process is an important component of doing business. Yet, it is often a process that managers dread, due to the time it requires, the numerous unqualified candidates, and the high employee turnover rates that come with an ineffective hiring process. Hiring and training new team members for your business is time-consuming and a financial burden that does not always provide the ROI that you expect. Smart hiring practices can help you identify the ideal candidate for the position, streamline the recruiting process and reduce the recruitment cost.

What Is Smart Hiring?

Smart hiring allows you to find the best talent for your company while reducing your recruitment costs. The following smart hiring practices can help improve your talent acquisition process:

  • Make hiring a proactive process. By actively recruiting the best candidates for your company, rather than rushing to fill a position, you are more likely to find a long-term hire that fits your company goals and culture.
  • Thoroughly screen all potential hires. Be sure to take into account a candidate’s personality, experience, job history, and personal background information. Consider doing personality tests, along with credit and background checks and drug testing.
  • Be on the lookout for red flags. Pay attention to issues such as frequent job changes, vague responses to past job exits, not being familiar with your company, being late for the interview, inappropriate attire, bad attitude, complaining about past work experiences, and not being prepared for the interview. Also, be aware that candidates that are over-eager and positive may not continue to exhibit those same traits once employed.
  • Improve your job listing practices. In addition to job responsibilities, post the objectives of the position to expand the candidate pool to include those who have skills from different industries that may be transferable. Consolidate the technology you use for the recruitment process.
  • Provide adequate training and mentoring for new hires. Be sure to provide all new hires with employee handbooks and communicate all objectives and expectations clearly. Remember that it can take months before new hires feel integrated and comfortable within your company.

How to Reduce Recruitment Costs

The average cost to hire a new employee can be up to $4,000, and the process can take up to 42 days. Hiring new employees is seldom an employer’s favorite task, but it is one of the most important. When executed correctly, it can save your company time and money. It can also reduce the hassles that come with the hiring process and transform it into a rewarding experience. There are several ways that you can reduce the costs associated with recruitment:

  1. Reduce turnover. Reducing recruitment costs begins with retaining the staff you currently have and reducing turnover. Establishing a work culture that is positive and welcoming goes a long way in this process. A strong training program can ensure that new hires are firmly integrated and comfortable within their roles.
  2. Reduce hire time. By reducing the time you spend on the hiring process, you can save resources, money, and time. This requires a clear picture of the skills and qualifications you want from your ideal candidate.
  3. Communicate clearly and effectively with potential candidates, and create a positive work culture.
  4. Use technology to automate hiring steps.
  5. Consider choosing a top-tier agency such as Virtual Latinos to streamline your hiring process.

One of the best ways to improve your process is by thinking outside the box. In this video, you can see how Virtual Latinos evolved to fill a need for experienced bilingual virtual assistants.

Virtual Latinos can help you find a virtual assistant that matches the needs of your company, without the extra time typically associated with the hiring process. When you hire a virtual assistant through Virtual Latinos, you are adding a team member that is committed to a long-term relationship with your company. We take the time to find qualified candidates with the skillset you need to fit your business. This can help you minimize the costs and frustrations that are associated with short-term retainment. Consider hiring through an expert agency like Virtual Latinos.

Where to Find the Best Talent?

Finding the right talent for your company can be challenging. Choosing an expert agency such as Virtual Latinos to provide virtual assistant services as an integral component of your recruitment process can save your company time and money. Virtual Latinos offers bilingual virtual assistants who speak Spanish and English fluently, making them a great asset to expanding your customer base.

Virtual Latinos features the best talent in Latin America. These candidates are already pre-vetted, and the agency offers several virtual assistant pricing plans with rates from entry-level, mid-level, to expert-level experience. Your virtual assistant cost will depend on the specific needs of your company and the amount of time you are willing to dedicate to training.

Virtual Latinos is your best choice for finding the professional services you need. When you hire a virtual assistant through Virtual Latinos, you reduce recruitment costs, save time, and improve your employee retainment. Let us help you find the right quality candidate the first time. Contact us today!

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