Tips to hire the right Candidate At Minimum cost especially for Startups and SMEs

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In any business what are the main functions involved?

Let’s start with some important functions which can be understood by any business owner, corporates, SME’s and startups.

Those are Marketing, Sales, Operation, HRD, Accounts, R&D, and Management.

These are the integral  features of any business. As I’m associated with many groups where SME’s and startups are involved in the main problem which is discussed in these groups are the challenges they are facing in recruitment and the agenda is Cost and Quality of recruitment of employees.

Thus, Hiring the Right candidate within TAT  at minimum cost has always been a task especially for Startups and SME’s.

For instance, if we talk about huge corporate, they have various options wherein they follow a systematic procedure of recruitment (by either recruiting through third-party or advertising) which is not possible for start-ups and SMEs (as the budget is limited).

Hiring the right candidate can be a daunting task as it involves a lot of drills to be followed. An absolute hiring process consumes a lot of time as it might necessitate you to advertise, screen the profiles, follow up with a telephonic, and a face-to-face round. But this whole procedure absorbs a lot of your time as well as your money.

Continuous hiring or retention can be hard-bitten for any company and to lower this burden we have made a list with the best techniques that you can utilize for recruitment. This can churn out more than half of your company’s cost:

Line-up Your Company Website

The world that is growing in technology also gives us opportunity to grow with it as well, so it’s mandatory for companies to build their website and update it on a regular basis  and career page as it might help you get a lot of applicants, Well you can even tell the job seekers about the perks and the the principal part of the company so that they are easily drawn to your job after visiting your website.

Social Channel Utilization

In this technical world, everything is just a click away, so utilize your social networking tool especially LinkedIn, it is becoming more and more favorable as it is the most used networks among professionals. Posting job advertisements on Facebook and Instagram can also help.

You can find many people commenting or visiting your website after you post the job profiles on it – so explore it.

You can mention a bit of your additional budget and can also make use of the paid services (it does not involve high expense for the company as there are ads which come at rates of 500 INR).

 Verbal Publicity

Verbal words always work though we are in the world of social media but verbal publicity is a prime method of interaction, communicate with your associates, vendors, and employees in order to ensure them about your ardent search for the right candidate.

Promote Internally or By Assigning Multiple Tasks After A Little Training.

A lot of start-ups and SMEs have adopted this technique which has reduced half of the cost of hiring. In internal hiring, employers usually see the potential of the candidate before offering him/her the position in the form of a promotion. Later, the employee gets trained to become completely equipped with the required skills. Hence, try finding out the best fit in your premises instead of looking out.

 Employee Referrals

 Employee referrals always work but are the most worked in a big organization. How can we use this in our SME’s and startups? We can start from the HR desk allowing any HR in your organization. The employee himself/herself will never introduce a wrong candidate in order to maintain his/her image.

 Previous Hold Profile.

Many times we take interviews and follow the whole process for a particular candidate and then we hold the candidate last minute because of certain reasons. At that particular moment when we are in need of the candidate we should look once again at the hold profiles, maybe that particular employee which was kept on hold be the one the candidate you are looking for.

 If you are looking for any support or consultation you can get in touch with me any time.

Published by
Shanti Verma
Managing Partner at Mega HR Consultant

Shanti Verma
Follow Shanti Verma:

Founder - Mega HR Consultant | Recruitment Specialist | Leadership Hiring MBA in Human Resource from welingkar institute of management Mumbai with a work experience of 15+ years into Recruitment for MNC, Startup & SME’S with specialization in Beauty and Wellness | FMCG & FMCD |Retail |Cosmetics & personal care Nutraceutical |Healthcare & pharma | hospitality and Manufacturing |IT

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