How to optimize your recruiting cost
For small and medium businesses, Developers play a key role in the the growth and sustainability. So in order to make the work function run smoothly, it is important to hire good coders. Setting of a benchmark before hiring is necessary because hiring substandard or mediocre ones will take a toll on the time spent to train the candidate, to the standard of which the company needs.
This is why meticulous recruiting plays a major role in the success of a firm. For any service based firm, human resource is the biggest differentiator. The best way to choose a candidate is giving a project to complete. Or intern the candidate for a short period to know the work quality before offering the job. But the problem with these methods are, they are all time consuming and resource consuming. An intern needs to be mentored and incase if project is given to a candidate then the assessing person should spend some extra effort to evaluate it.
Let us look in detail about the conventional recruitment process and how it results in spending lot of resources.
Shortlisting candidates takes a good amount of time to peruse through the resume and setting up the basic criteria. Once that process is finished, then the initial screening process begins. The initial talent pool will be big and will have a wide variety of participants. This is the most important stage, as you will be deciding the basic qualities or skills a candidate should possess. This screening process consumes the working hours of lot of technical resources.
For any software company, technical resources forms the backbone. It is essential to utilise the resources optimally. In order to secure the future of the company, time of some of these resources are wasted in the recruitment process. This costs a lot for the company indirectly. They cannot recover the cost in anyway as the time spent by each technical resource causes wastage of the billable work, hence money generated. Rather if they can reduce the time spent by the tech resources on the recruitment it saves a lot of money. Apart from all that it won’t hinder the work flow.
Work flow is an important factor for developers and technical resources. For the sake of recruitment, if the flow and continuity is hindered then it becomes a dampening factor. Completing the project on time is one of the deciding factor of the company’s performance and it shouldn’t be affected by factors such as these.
Consider a company which has around 40 technical resources, and it involves around 3 people for recruitment. Beginning with the screening of the huge database of resumes it takes a minimum of 4 minutes per resume to even peruse. So for going through around 200 resume it would takes a 800 minutes. Then comes the shortlisting process of initial tests which takes an odd 60 minutes where the three resources have to take some time for correction, which takes another 60 minutes and hence in total 180 minutes. And that’s the first preliminary.
Then a technical round which would happen for around 2 hours, the number of candidates decides the number of hours spent. Assuming a base of 5 candidates around 10 hours is the cost. Then for the final interview, three panelists have to stay all day and hence 30 hours are costed. On the whole 13.33+ 3 + 10 + 30 = 56 hours are spent at the least to short list candidates for a final call.
Consider a small company which charges about $30 per hour, for them 56 hours would cost about $1680. This is the cost that can be saved if the recruitment is done online.
There are number of online technical recruitment platforms, but most of them are costly and complicated on the admin point of view. This is were CodeKalam stands out, with plans starting from $25 with 25 free invites per month and each extra invite costing just $2, helps small companies to recruit with out any hassle. The UI and UX of the platform is very appealing and it has options of posting and reviewing of both programming as well as multiple choice questions.
Originally published at www.codekalam.com.