Maximizing ROI on the Hiring Process

Your people are the core of your business, and ensuring you hire the best possible talent is every manager’s top priority. But finding exceptional talent is only half of it – maximizing your ROI begins well before the search, and utilizing recruiters are an excellent way to make sure you’re getting the most out of the time and resources you invest in the hiring process.

A seemingly low-cost, do it yourself approach seems like the most cost effective option on the surface, but often ends up costing hiring managers significantly more in wasted resources and unproductive searches – only to yield mediocre results. Take a look at how recruiters can help to maximize your ROI in a variety of searches.

A niche role

The cost of conducting a search for someone with ultra-specific qualifications is financially significant, as well as time consuming. Tying up multiple employees in a search for one difficult-to-find candidate is a waste of productivity on top of the hefty concrete costs of job ads, resume filtering, and interviewing. A niche role will also bring in far more “no” resumes, than “yes” resumes, lowering the bar on the quality of hire you may be willing to accept in an effort to consolidate the hiring process. Recruiters are uniquely tuned into the market, and know exactly how to hone in a niche search. They also bear the burden of filtering through the increased number of ill-qualified candidates – which means when resumes land on your desk, you can be confident they meet the qualifications and focus on interviewing for personality and culture fit. 

Large numbers of applicants

Hiring managers often object to recruiting agencies when a certain role is receiving large numbers of applicants, as in the case of an entry-level position or a particularly attractive compensation package. While it may seem counterintuitive, large numbers of applicants actually bog down the hiring process and make hiring gold quality candidates costlier and more difficult. Filtering through a huge number of resumes is obviously costly, and the odds of passing over an excellent candidate are high, especially if your team is using an AI resume filter. Broad criteria are necessary to narrow down the resume pool, but if you’re missing out on a rockstar sales rep because they have 11 months of experience instead of 12, you’re not maximizing your team’s potential. Recruiters’ whole goal is to find the diamonds in the rough, and bring you candidates that are not only qualified and experienced, but a good fit for your team, ensuring you only interview the best of the best, and maximize your ROI when you find the right candidate.

Non-Urgent needs

Sometimes a role isn’t a crucial need, but open to the perfect fit. Tying up resources in a low-urgency search is counterproductive and much like the search for a niche role, begins to make the costs outweigh the benefits. In an instance like this one, only high caliber candidates make the search (and the hire) worthwhile. Recruiters’ search is not limited to those actively applying for new jobs. It extends to those crushing their current roles and looking to take the next step, bringing you resumes that would never come through a traditional application portal and allowing you to interview the cream of the crop.