How to Hire Top Talent Without Recruitment Costs

January 31, 2023 Enterprise, Entrepreneurs, Start-ups, Small Businesses, FinTech and Alternative Finance, Innovation and Resources, Leadership, Productivity, Competition, Human Capital, Health No comments

Sifted | Molly Johnson-Jones | Jan 31, 2023

Image: Unsplash/Tim Mossholder

As the funding slowdown hits startups and the global economy teeters on the brink of recession, hiring decisions have never been more important.

Hiring Situation: Get them right and you’ll gain talent that can crucially broaden your team’s skill set, add new perspectives and help fuel growth despite economic challenges. Get them wrong and you could face a revolving door of employees, sinking countless hours into continuously interviewing candidates and onboarding new joiners. How to grow your team with literally no recruitment spend....:

See: 58 Must-Read Remote Work Resources | 50 Great Remote Working Resources

Publish a salary band along with job description - Pay transparency is also fundamental to the fight for pay equality — something that is starting to shift in Europe.
Use social media to showcase company culture - According to a 2021 survey conducted by LinkedIn, 63% of professionals say work-life balance is a top priority when picking a new job and 40% identify colleagues and culture as a top consideration. But don’t just tell employees what working for you looks like — show them.
Get employees sharing about their working environment: There’s no better way to illustrate your working environment and its benefits than by getting your employees to share their experiences. They’re your best ambassadors and can explain how your working environment fits their lifestyle.
Explain firms flexible working arrangements in detail: Between January 2022 and December 2022, the number of job seekers expressing a preference for “remote first” roles more than tripled, and last year preferences for roles with “fully flexible” working hours increased by 23%.

Listen: Fintech Fridays EP55: Global Hiring Trends: How Gen Z Talent Thrives

Focus job descriptions on what you need and what’s in it for them: Adopt a 50:50 approach to job descriptions if you want to attract top candidates. Half your job description should centre on the requirements and responsibilities of the role, and the other half should focus on what new joiners stand to gain. Companies that take this approach see up to 7x the engagement with their roles.

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