Reduce Your Staffing Costs in a Down Economy
| As the price of oil continues to rise, increasing the price of everything, we’re all doing our best to make changes from what and how we drive to how we accomplish our business goals. |
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| Necessity is the mother of invention, and as the economy puts a squeeze on all of us we’re looking for more efficient ways to accomplish our goals. Efficiency is always a good thing, but it often takes an outside influence to make us look at how we do things and make the changes that, in retrospect, we should have made earlier. |
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| As a business owner I came to realize that one of the most expensive items on my balance sheet each month was hiring and employee associated costs. I understand the importance of hiring and employing the best people so what I needed to do was find a way to do it more cost effective. |
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| The first thing I recognized is recruiting agency fees made up a large portion of our hiring budget. We needed to change this. So initially we bought lists of names, but in most cases only about 30% to 40% of the information was current and valid so it really didn’t live up to expectations. |
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| A friend told me that BIG companies use Recruiting Process Outsourcing (RPO’s) to cut staffing costs. We took some time and did research on some of the people providing this type of service (Kenexa, Agile1, and IQ Navigator) and came to the conclusion that all offered far more than a business of my size needed. Along the way I came across another possible solution to my problem called name generation. We looked around and took a shot at using the name generation service offered by Fusion Staffing & Executive Search in Denver, CO. We went with version 2.0 of their name generation service because we wanted to be sure the information was current (unlike the lists we bought) and that we would get more detailed information on the people found. |
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| The feedback from our recruiters and hiring managers was overwhelmingly positive; it turned out this was the solution we had been looking for. It worked for both the complex and the high volume searches, providing us quality candidates allowing everyone involved within our recruiting process to maximize their efforts and fill positions quickly. |
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| Name generation is a good way to reduce your cost per hire and provide you access to the pool of candidates who are both passive and actively searching. |
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| About the Author: |
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| Peter Rossington is an entrepreneur whose experience includes Technology, Telecommunications and Turnaround, Crisis and Interim Management of companies for Private Equity business partners. |
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| Peter writes a monthly business piece. If you are interested in reading more of his article email your request to: Rossington.Peter@gmail.com |
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| Companies mentioned in this article. |
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| www.fusionstaffing.net |
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| www.kenexa.com |
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| www.agile1.com |
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| www.iqnavigator.com |
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Tags: NAME-GENeration · Working With Fusion Staffing
