How your recruitment module will save you money long term
An HRMS recruitment module can be a major source of cost savings, especially when you calculate the long term possibilities. If you are considering a new recruitment module or calculating your current return on investment, be sure to include these features for the full picture.
Automated and configurable workflow
As the saying goes, ‘time is money.’ Automated recruitment workflow provides savings on multiple fronts. Your recruiters and HR administrators are no longer tasked with following up on paperwork. Instead they can look in the HRMS and see the status of a requisition and who is delaying the process.
Many companies have different workflows depending on the level of the position or its location. With a recruitment module no one is tasked with checking a flowchart and cross checking a long list of approvers. All of the rules around the position can be built into the HRMS which removes administration time from the HR team and those in the approval path.
Links to candidate pipelines
A recruitment module can help you to gain access to your best candidate pool - your internal staff. Releasing requisitions internally first can help you to limit spend on recruitment by datamining your skilled employees. This strategy is especially effective when you are seeking niche skills or specialized experiences that are found internally as recruitment costs can be high in those areas.
Today’s generation of HRMS are connected to traditional job boards plus alternatives like social media sites for when you need to recruit externally. Your internal recruiter’s time is a sunk cost but using these highly effective social media options can be a tremendous cost savings over time.
Usage of emerging tools
Recruitment modules are bringing new functionality to the table that will result in cost savings. Scenario and game-based recruitment is helping to attract and screen the right candidates online, saving HR time and costs. The recruitment process is further enhanced by behavior assessments, an online option that is best built upon your employee competency structure. Candidates are assessed against existing job profiles to find the best matches. Performing this analysis up front will result in cost savings as you can eliminate incompatible candidates before they become costly employees.
Consider using video screening and interview functionality of your recruitment module, especially for distant candidates or initial interviews. Travel costs can add up and online screening will consistently save you costs in the long term and help you to narrow down your short list of candidates in an efficient method.
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