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For the first 6 months of 2022, the number of tech jobs has increased 59% compared to the same period last year. The difference between the demand for and the proposition of skilled talent in the industry has created 40 million tech positions that go unfilled around the globe. As a result, tech cost-per-hire is also growing. On average, it costs around $4.500 and takes around 36-42 days to fill a position.
Third-party outstaffing is one of the best and most efficient ways to scale the tech team fast and without having to pay extra. But, it is also crucial to check whether your outstaffing partner of choice is making all the right steps to minimize cost-per-hire and make the process as efficient as possible.
They create a tech talent pool
What is a talent pool?
Creating a talent pool is a practice of assembling and accumulating additional talent to optimize the hiring process, improve its efficiency, and reduce tech cost-per-hire. It helps recruiters and outstaffing professionals fill open positions fast and without preliminary interviews.
67% of large and 56% of medium-sized companies find filling their positions hard. For them, a professional outstaffing company with a large tech candidate pool can become a real savior.
To create a pool of candidates and minimize cost-per-hire, we at Outstaff Your Team take the following steps:
- Save the relevant candidates’ data in one database. This way, we can reach the needed candidate with ease and without having to search for their contacts.
- Categorize all the candidates and open positions. This helps us find the right person with the right skills almost instantly.
- Dive deep into every position’s requirements. This makes sure we understand our clients’ needs to a T and can offer them the best and most skilled candidates.
Creating a tech talent pool and decreasing cost-per-hire in tech takes time, determination, and deep understanding of the market and its requirements.
They use social media
The formula to creating a perfect social media recruitment ad is simple. Make it:
- Short, concise, and informative
- Eye-catching and attractive
- Targeted to its perfect audience
- Personalized for every country you are interested in
Facebook is one of the most popular social media platforms for both communication and seeking tech professionals. While the cost of vacancy promotion there may vary, it is one of the best ways to cut cost-per-hire in tech.
What is screening?
Screening is a process of conducting one preliminary interview to determine which candidates do not suit the position at all and will not be going into the next interview stage. This helps outstaffing professionals to limit the number of candidates and reduce cost-per-hire as a result.
Screening allows saving resources, time, and effort on interviewing tech candidates who do not possess required skills, are uninterested, or unmotivated. To screen efficiently, the recruitment or outstaffing professionals have to have a deep and acute understanding of their clients’ needs and every position’s requirements. Screening allows saving time for candidates, outstaffing professionals, and the tech management, responsible for conducting tech interviews.
Even despite technical growth, only 61% of businesses say they have reached their automation goals. 24% of companies have already implemented low-code automation, with 29% planning to do so in the near future.
Automating reduces tech cost-per-hire and improves the above-mentioned outstaffing teams’ screening process. It can concern preliminary tests, CV- and resume-processing, and even information gathering processes.
To make automation perfect, ask tech candidates what the application process was lacking and what could be improved. Their professional background will help any outstaffing team and their clients get the best solution for automation.
They implement video interviews
The job market has gone global and video interviews have become a staple of an efficient recruitment process.
Knowing how to conduct video interviews and correctly assess the quality of candidates’ knowledge, skills, and readiness to work in a team is a must when looking to cut cost-per-hire in tech.
Cutting and optimizing cost-per-hire in tech is not a simple task. It requires attention to detail and a deep understanding of the tech world. But, with the help of a professional outstaffing team, anything is possible.
Looking to decrease cost-per-hire? Write to us at email@example.com, and we’ll help you scale your tech team fast and efficiently.