{"id":685,"date":"2023-04-30T11:48:14","date_gmt":"2023-04-30T04:48:14","guid":{"rendered":"https:\/\/www.shortlyst.ai\/blog\/?p=685"},"modified":"2023-05-01T11:55:44","modified_gmt":"2023-05-01T04:55:44","slug":"top-5-effective-ways-to-reduce-cost-per-hire-of-your-recruitment-process","status":"publish","type":"post","link":"https:\/\/www.shortlyst.ai\/blog\/top-5-effective-ways-to-reduce-cost-per-hire-of-your-recruitment-process\/","title":{"rendered":"Top 5 Effective Ways to Reduce Cost per Hire of Your Recruitment Process"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"600\" height=\"300\" src=\"https:\/\/www.shortlyst.ai\/blog\/wp-content\/uploads\/2023\/05\/How-To-Reduce-Cost-Per-Hire-And-Time-To-Hire-In-Recruitment.jpg\" alt=\"how to reduce cost per hire\" class=\"wp-image-686\" srcset=\"https:\/\/www.shortlyst.ai\/blog\/wp-content\/uploads\/2023\/05\/How-To-Reduce-Cost-Per-Hire-And-Time-To-Hire-In-Recruitment.jpg 600w, https:\/\/www.shortlyst.ai\/blog\/wp-content\/uploads\/2023\/05\/How-To-Reduce-Cost-Per-Hire-And-Time-To-Hire-In-Recruitment-300x150.jpg 300w, https:\/\/www.shortlyst.ai\/blog\/wp-content\/uploads\/2023\/05\/How-To-Reduce-Cost-Per-Hire-And-Time-To-Hire-In-Recruitment-24x12.jpg 24w, https:\/\/www.shortlyst.ai\/blog\/wp-content\/uploads\/2023\/05\/How-To-Reduce-Cost-Per-Hire-And-Time-To-Hire-In-Recruitment-36x18.jpg 36w, https:\/\/www.shortlyst.ai\/blog\/wp-content\/uploads\/2023\/05\/How-To-Reduce-Cost-Per-Hire-And-Time-To-Hire-In-Recruitment-48x24.jpg 48w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><\/figure>\n\n\n\n<p>Ever wondered how much it cost an organization to hire a candidate, except for the remuneration paid to the latter? Cost per hire (CPH) is an important metric to consider in any recruitment strategy, as it provides a measure of the effectiveness and efficiency of your hiring process. By reducing CPH, companies can cut down on costs associated with recruiting, making it easier for them to attract top-notch talent while staying within their budgets.<\/p>\n\n\n\n<p>Here are the top 5 ways to reduce cost per hire in your recruitment strategy:<\/p>\n\n\n\n<ol>\n<li><strong>Use free and low-cost job boards<\/strong> \u2013 One of the quickest and most effective ways to reduce CPH is by leveraging free or low-cost job boards to post open positions. This will allow you to reach a larger, more diverse talent pool without spending too much on advertising fees<\/li>\n\n\n\n<li><strong>Automate the recruitment process by using applicant tracking systems (ATS)<\/strong> \u2013 By utilizing ATS, you can streamline and automate a variety of recruitment processes such as screening applicants, scheduling interviews, and sending offer letters. This will reduce manual labor and save time that would usually be spent on administrative tasks<\/li>\n\n\n\n<li><strong>Utilize social media<\/strong> \u2013 With billions of users, social media has become an invaluable tool for recruiters and employers to connect with passive job seekers as well as active ones. Besides its cost-effectiveness, it also allows you to target specific types of candidates based on their interests, experience, and other criteria<\/li>\n\n\n\n<li><strong>Focus on employer branding<\/strong> \u2013 <strong><a href=\"https:\/\/www.shortlyst.ai\/blog\/top-10-tips-for-a-successful-employer-branding-strategy\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\">Employer branding<\/mark> <\/a><\/strong>is an essential component of any successful recruitment strategy. By creating a strong, positive reputation in the job market, you can attract more qualified candidates who are likely to accept your offers without having to negotiate for higher salaries<\/li>\n\n\n\n<li><strong>Develop a referral program<\/strong> \u2013 Referrals are an excellent way to reduce CPH because they cost much less than traditional recruitment methods. Plus, the candidates referred via the <strong><a href=\"https:\/\/www.shortlyst.ai\/blog\/importance-management-of-employee-referral-programs\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\">referral program<\/mark><\/a><\/strong> by existing employees are often more engaged and tend to stay longer in their jobs<\/li>\n<\/ol>\n\n\n\n<p>By following these tips, you can lower your CPH and still attract top-notch talent. Keep in mind that reducing <strong><a href=\"https:\/\/www.shortlyst.ai\/blog\/what-is-cost-per-hire-in-recruitment-formula-definition\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\">cost per hire<\/mark><\/a><\/strong> is an ongoing process and requires continuous optimization. As you apply the above tips, keep measuring your CPH to ensure that you are achieving the desired results.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ever wondered how much it cost an organization to hire a candidate, except for the remuneration paid to the latter? Cost per hire (CPH) is an important metric to consider in any recruitment strategy, as it provides a measure of the effectiveness and efficiency of your hiring process. By reducing CPH, companies can cut down &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/www.shortlyst.ai\/blog\/top-5-effective-ways-to-reduce-cost-per-hire-of-your-recruitment-process\/\"> <span class=\"screen-reader-text\">Top 5 Effective Ways to Reduce Cost per Hire of Your Recruitment Process<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":2,"featured_media":686,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1,10],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.7.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Top 5 Ways to Reduce your Recruitment Cost per Hire - Shortlyst Blog<\/title>\n<meta name=\"description\" content=\"Cost per hire is an important metric to understand efficiency of your recruitment process. Here are our top 5 tips to lower the same.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.shortlyst.ai\/blog\/top-5-effective-ways-to-reduce-cost-per-hire-of-your-recruitment-process\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 5 Ways to Reduce your Recruitment Cost per Hire - Shortlyst Blog\" \/>\n<meta property=\"og:description\" content=\"Cost per hire is an important metric to understand efficiency of your recruitment process. Here are our top 5 tips to lower the same.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.shortlyst.ai\/blog\/top-5-effective-ways-to-reduce-cost-per-hire-of-your-recruitment-process\/\" \/>\n<meta property=\"og:site_name\" content=\"Shortlyst Blog - AI Recruitment | Automation\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-30T04:48:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-01T04:55:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.shortlyst.ai\/blog\/wp-content\/uploads\/2023\/05\/How-To-Reduce-Cost-Per-Hire-And-Time-To-Hire-In-Recruitment.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shortlyst Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shortlyst Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.shortlyst.ai\/blog\/top-5-effective-ways-to-reduce-cost-per-hire-of-your-recruitment-process\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.shortlyst.ai\/blog\/top-5-effective-ways-to-reduce-cost-per-hire-of-your-recruitment-process\/\"},\"author\":{\"name\":\"Shortlyst Team\",\"@id\":\"https:\/\/www.shortlyst.ai\/blog\/#\/schema\/person\/f83a18afc2e262392de8f666a8800851\"},\"headline\":\"Top 5 Effective Ways to Reduce Cost per Hire of Your Recruitment Process\",\"datePublished\":\"2023-04-30T04:48:14+00:00\",\"dateModified\":\"2023-05-01T04:55:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.shortlyst.ai\/blog\/top-5-effective-ways-to-reduce-cost-per-hire-of-your-recruitment-process\/\"},\"wordCount\":385,\"publisher\":{\"@id\":\"https:\/\/www.shortlyst.ai\/blog\/#organization\"},\"articleSection\":[\"All\",\"HR Excellence\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.shortlyst.ai\/blog\/top-5-effective-ways-to-reduce-cost-per-hire-of-your-recruitment-process\/\",\"url\":\"https:\/\/www.shortlyst.ai\/blog\/top-5-effective-ways-to-reduce-cost-per-hire-of-your-recruitment-process\/\",\"name\":\"Top 5 Ways to Reduce your Recruitment Cost per Hire - Shortlyst Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.shortlyst.ai\/blog\/#website\"},\"datePublished\":\"2023-04-30T04:48:14+00:00\",\"dateModified\":\"2023-05-01T04:55:44+00:00\",\"description\":\"Cost per hire is an important metric to understand efficiency of your recruitment process. 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