Investment is not a synonym of spending money! It\u2019s the opposite actually, we invest knowing that it\u2019ll generate revenue later on. <\/span><\/p>\n\n\n\n

It’s important to ask yourself a couple questions before investing. Is it really necessary to invest at this moment? What can you invest in?  <\/span><\/p>\n\n\n\n

What about Recruitment?<\/b><\/h2>\n\n\n\n

Every company strives to become profitable one day, therefore eliminating unnecessary expenses is a mindset adopted by all teams within the business. <\/span><\/p>\n\n\n\n

Eliminating unnecessary expenses doesn’t always equivalent to letting employees go or changing the business model. It can be a strategy as simple as increasing work productivity in less time. Optimizing your team’s time means they can focus on the revenue generating projects and tasks that actually matter. <\/span><\/p>\n\n\n\n

So, let’s analyze a company\u2019s recruitment process, from the time it takes to open a position to the moment of hiring.  <\/span><\/p>\n\n\n\n

What some of the standard steps present in a selection process?<\/b><\/h3>\n\n\n\n

• Defining the candidate\u2019s profile and position description\/requirements;<\/span><\/li>
• Job posting and marketing to attract the right candidates;<\/span><\/li>
• Resume screening<\/span><\/li>
• Candidate screening and evaluation;<\/span><\/li>
• Scheduling interviews or quizzes\/tests;<\/span><\/li>
• Applying interviews and quizzes\/tests;<\/span><\/li>
• Candidate evaluation by the company\u2019s team;<\/span><\/li>
• Hiring.<\/span><\/li><\/ul>\n\n\n\n

  What’s the reality today? <\/b><\/h2>\n\n\n\n

  Most companies still haven’t automated their recruiting process. Many companies for example, still receive resumes by email. <\/span><\/p>\n\n\n\n

  Even if the company is organized and diligent with their emails, or has a team specifically dedicated for this task, it\u2019s still an activity that demands a lot of time. Opening the email, downloading the pdf, organizing them in folders or Google Drive, classifying each email, getting in touch with the candidates, scheduling interviews\/quizzes\/tests, etc\u2026).<\/span><\/p>\n\n\n\n

  How do you calculate your recruiting costs?<\/b><\/h2>\n\n\n\n

  If companies open a job position,  they’ll share it in social media, job boards and invite candidates by email or with LinkedIn. How do you calculate how much time is being spent hiring a candidate for this position?<\/span><\/p>\n\n\n\n

  Let\u2019s say it takes around 30 minutes to post a job and share it on social media.<\/span><\/p>\n\n\n\n

  So if a company received 300 resumes, but only analyzed 100, and it took only 30 seconds to evaluate one resume, you can take approximately one hour to review one third of candidates. <\/span><\/p>\n\n\n\n

  Of the 100, you called only 8 which took 10 minutes each. However, you only applied a test with 5 of them. All the tests lasted for about 2 hours and 30 minutes.<\/span><\/p>\n\n\n\n

   After reviewing the candidates and their tests, you schedule interviews with 4 of them lasting  4 hours in total. <\/span><\/p>\n\n\n\n

  Out of these 4 candidates, only 2 of them advance to 1 hour in-person interviews with 3 different executives. There goes 6 more hours.   <\/span><\/p>\n\n\n\n

  Everything took about 21hrs, almost three full work days. <\/span><\/p>\n\n\n\n

  How much time and money does a company spend with a manual recruiting process?<\/b><\/h2>\n\n\n\n

  Let\u2019s say that an HR Senior Recruiter and a Director were involved in this process. The Recruiter’s salary is approximately $70k and the Directors is US$90k per year. <\/span><\/p>\n\n\n\n

  This means that their hourly rate is approximately $34 and $44. So in the end, the entire process costs approximately $1.638.<\/span><\/p>\n\n\n\n

  What changes will automation bring to my recruiting processes? <\/b><\/h2>\n\n\n\n

  In our next post we\u2019ll dive deeply into all the benefits of using a recruiting platform will bring you!<\/span><\/p>\n\n\n\n

   With Plooral you can automate every step of your recruiting process, spending less time (and money) with administrative and manual tasks! <\/span><\/p>\n\n\n\n

  Use Plooral today!<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

  Investment is not a synonym of spending money! It\u2019s the opposite actually, we invest knowing that it\u2019ll generate revenue later on.  It’s important to ask yourself a couple questions before investing. Is it really necessary to invest at this moment? What can you invest in?   What about Recruitment? Every company strives to become profitable one […]<\/p>\n","protected":false},"author":13,"featured_media":2689,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[93,213],"tags":[30,33,157,50,138,139,149,58,60,106,117,65],"class_list":["post-734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hr","category-recruitment-and-hiring","tag-ats","tag-enlizt","tag-enliztusa","tag-hiring","tag-hr","tag-hrtech","tag-jobs","tag-recruiters","tag-recruitingprocess","tag-recruitment","tag-startup","tag-technology"],"yoast_head":"\n