Keeping Recruitment Costs Reasonable

One of the most important thing that any business can do is hire the best talent available for them. Because it is so important and because companies want to get the best possible person for every role, it is not surprising that recruitments costs make up a huge percentage of the average business’ annual expenditure.

That being said, most businesses could easily slash the amount they spend on recruitment and keep it at more manageable levels. So, if you’re currently spending a lot of cash on hiring the right people, take a look at the following tips to keep the costs associated with that more reasonable:

Work Out How Much Your Spending

The first step to cutting your recruitment costs down to size is, of course, knowing how much you’re spending now. Work out exactly how much you’re spending on the whole process from turnover to admin to advertising roles and then you can start to identify where you are spending too much so you can start making changes.

Hire Smart, Save Money

Perhaps the biggest cause of too high recruitment costs is choosing the wrong candidate. If you do that, then not only have you wasted a lot of time and money on recruitment in the first place, but you’ll have to go through it all again to find someone more suitable. Add to that things like severance pay and hiring temps to cover until a more suitable employee is in place, and you can easily see how costs add up. So, if you do nothing else, hire smart the first time around.

 

Automate as Much as Possible

There is absolutely no point in employing excessive levels of HR staff when so much of the process can be automated right now. From applicant tracking systems, which significantly cuts down on the amount of time and energy it takes to manage one’s talent pool to messaging apps that make contacting applicants after they have expressed interest so much simpler, there are countless technologies that will come in at a fraction of the cost of using humans. So, be smart and automate.

Make Use of Screening

I could have included this in the automation section, but it’s worth taking a moment to discuss screening on its own. There are still too few businesses who are using applicant screening technology to narrow down the field and find the most suitable candidates right off the bat. This is bad because manually screening applicants even if it’s just going over their resumes, takes so much time, effort and money that it is literally sucking some companies dry. So, if you want to get the right people and spend as little as possible, build pre-screening into your recruitment process from the beginning.

Make Use of Social Media

There are still a lot of business owners and HR staff who think that using social media to find candidates is a bit of a joke – it isn’t. Actually, it makes a lot of sense to use what are essentially free platforms used by billions of people all over the world, to recruit new talent. The key is to use the most appropriate platform, which is likely to be the platform your ideal employee is using and to screen them as extensively as you would any other candidate. In fact, screening them might be a whole lot easier when you can see what they’re up to on social media!

Recruit More Quickly

It’s simple really, when you cut the amount of time you’re giving yourself to recruit, you’ll spend less resources and therefore less cash on the process. Cutting recruitment time can also make you and your candidates much more focused and it will mean you don’t have to try and cover a position with fewer staff or bring in an expensive temp for quite as long, too.

 

Always Offer Market Value

Trying to save money by offering candidates less than market value for their skills is a false economy. It is far better to offer them a fair salary right upfront, so that you don’t end up having to spend way longer recruiting someone who’s willing to accept less, nor do you have to waste time hiring someone who isn’t up to the job and then re-recruiting at a later date.

If you do as many of these things as you can when you’re next recruiting a new employee, you should notice that not only do you spend a more reasonable sum of money, but also that the process is much more simple too!

Almost Payday: 3 Ways to Keep Going When a Bill Pops Up and It’s Almost Payday

In case you’re living a paycheck to paycheck lifestyle, you can probably relate to how quickly things can get out of hand when unexpected bills pop up out of nowhere. After all, these are unplanned expenses you’re going to need to cover somehow, and your current financial situation may not allow you to do so without getting the money from an external source. No matter what you do, keep calm – there are many things you can do to dig yourself out of the rut!

1. Withdraw the money from your emergency stash

You do have an emergency stash of money, don’t you? If not, unexpected expenses can serve to teach a great lesson about establishing one as soon as you can afford to. That way, similar situations will be far less burdening in the future. If you decide to deplete your emergency savings, make sure to replenish them after a while (basically, as soon as the dust settles).

Making a compromise and taking the money from your children’s college savings account, for example, is not ideal, but it is an option to consider. After all, if they’re not too close to their college years, you will probably have more than enough time to fill in the hole later.

2. Look for ways to avoid spending your money unnecessarily

Are there certain things you can live without for the rest of the month in order to cover the bills that are staring you in the face? Temporarily cutting off the unnecessary expenses is a great way to raise some additional funds (but you do need to have the money readily available for the method to work).

For example, are you willing to cook your own food for a month and avoid eating at the local restaurants? Can you find a cheaper way of commuting that may be less comfortable, but more cost-efficient? Can you postpone fixing a scratch on your car that’s only an aesthetic drawback, but doesn’t negatively affect its functionality? These are only a couple of examples of how you can extend your funds, and you’re going to have to come up with your own that apply to your particular situation.

3. Borrow the money you need

Friends and family members are likely to lend you a helping hand when things get tough. Ask them to lend you some money, and if they trust you’ll be able to repay them later without problems (if you have day to day job, for example), they will probably say yes. Of course, this is not to be counted upon and does depend on how close you are on a personal level.

If you’ve exhausted all of your other options, there are various online installment loans for you to consider. Please bear in mind these types of loans are to be treated as emergency money only, since they do come with high interests rates. But the good thing is that you’ll be able to pay them back in monthly installments, which should be more than doable if you have a regular income.

Conclusion

There’s no reason to panic, no matter how anxious you might get when seeing an unpaid bill on your desk. By being level-headed and utilizing a proper amount of planning, you’re going to take care of it in no time, effectively making your temporary financial worries a thing of the past.

Decisions to Make Before Your Put Your House on the Market

There comes a time in our lives when the home we spent long years in no longer serves our lifestyle, and we need to move on. Whether you are relocating for work, or need to downsize, as your children have all grown up, you have to make several good decisions to make the process of selling your house smoother. Below you will find a few things you will need to decide on early to get the best price in the shortest period of time.

Renovate or Not?

When putting your home on the market, you want it to look as desirable as possible. You might spend a couple of thousand dollars to put in a new kitchen and impress female buyers, but you need to be careful and make sure that you are getting a good return on investment. Anything that is essential, such as upgrading your electrics or heating system will add extra security for your buyers, but unnecessary renovations should be avoided.

Should You Redecorate?

You can start redecorating when you decide to sell your home, if it looks tired and dated. Alternatively, if there are some cosmetic issues you want to address, or your color scheme is unique and doesn’t appeal to the general public, you can simply repaint the walls using natural colors, such as magnolia or white. This will help potential buyers look at your home as a blank canvas and imagine their designs.

Selling Privately or Through an Agent?

 

You will need to use a professional if you are short of time, otherwise, simply advertise and host a viewing party. However, if you wake up in the morning with the thought that  “I want to sell my home quickly”, you might want to get in touch with a professional with a proven track record in your area. They will discuss your options, provide expert valuations and advice on how to make the most out of your sale.

Is This the Time to Sell?

It is recommended to look at property price trends in your area before putting your house on the market. If the prices are predicted to go up, and the demand is growing, you might wait a few months and let your property out for a while, so you can maximize your return on investments.

Will You Get Enough Finance to Move?

Before you start selling your house, it is recommended that you check your financial options to make sure that you can afford a new place from the extra finance and the proceeds of your sale. Calculate the cost of moving, legal fees, and estate agent commissions, when working out how much money you have to budget with.

It is important that you consider all the above options before you sign the agreement or start advertising your house for sale privately. Plan your journey, create a detailed budget, and make sure that you are prepared for roadblocks. Decide on a timeframe and a desired price you want to achieve for your property, so you can afford to move on and start fresh.