There are more options than ever when searching for new personnel. Since the the most important factor for success lies in the strength of your human capital, your recruiting process is vital to the success of your company. Finding employees can also be the most frustrating and time-consuming endeavor you ever undertake. This article discusses the options you have and which ones make sense for each situation.
Before you implement any recruiting strategy it is advisable to review your company’s present and future organizational structure and develop a position description. Click here for more information.
There are four basic recruitment options: the Internet, networking, recruitment agencies and classified ads in print.
Thousands of job related websites now exist, and most have similar functionality from an employer’s perspective:
- Employers post ads for a fee
- Employers may search resume database for a fee
- Site offers a supplementary service which screens candidates’ responses based on their applicability to the employer’s prescribed attributes. Note that this service can be a big time saver as online ads usually yield hundreds of responses which could also inundate you with irrelevant resumes.
There are essentially four basic categories of online job sites: generalist sites, industry-specific sites, function-specific sites, and level-specific sites.
Generalist sites accept job ads for all positions from employers in all industries. However, their real strength is in traditional positions (i.e. Controller, Benefits Administrator, etc.) with annual compensation levels ranging between $30,000 and $125,000. Generally, the cost of a single 30-60 day posting on one of the most popular sites is around $300. The cost to search a sites’ resume database is approximately $400 to $1,000 for a limited geographical area and a limited time-frame (2 weeks to one month). Most sites do offer a volume discount for multiple postings. Although the less popular sites generally charge a less expensive posting fee, your ultimate cost per viable prospective candidate would most likely be lower with a more popular site given its significantly wider audience.
Industry-specific sites provide listings for all types of positions within a particular industry segment. Many sites appear to have little activity, so do your due diligence.
Function-specific sites focus on a type of position which exists in companies across many industry segments including sales and marketing, finance and accounting, human resources and benefits administration, etc. As with the industry specific sites, it is prudent to gauge the site’s appeal before making an investment in the posting.
Examples of function-specific sites include: jobsinthemoney.com (finance/accounting), attorneyave.com (legal), salesjobs.com, net-temps.com (temporary/contract workers), and ihirehr.com (human resources)
Level-specific sites specialize in specific levels of career development. For example, 6figurejobs.com is exclusive to executive level postings for positions with annual compensation in excess of $100,000. Additionally, chief.monster.com is for “C-level” positions: CEO, COO, CFO, etc. Monstertrak.com is at the other end of the career continuum as its focus is on college students and recent college grads.
With respect to all online recruiting, search the site for the volume of positions listed, employers represented, and candidate resumes on file to ensure the site has the candidates you are looking for. It is also a good practice to post the position on your company’s website.