Updated: Apr 26
Employees are every company’s most invaluable asset. Their work and contribution drive business continuity and success, ensuring a company reaches its objectives and maintains stability.
But finding suitable and skilled workers can be a more challenging task than one would ever assume. Recruitment has always been complex, requiring thorough preparation, evaluation, and commitment.
However, it became even more demanding after the pandemic due to the Great Resignation and talent shortage. Over 76 percent of recruiters say their biggest challenge is attracting the right candidate, mainly because the best job applicants are off the market in ten days.
Thus, 70 percent of the global workforce comprises passive talents who don’t actively seek new jobs. Because of that, business leaders and HR professionals require a perfect hiring plan that helps them attract and retain the best match and meet their company’s goals.
A hiring plan represents an all-encompassing strategy that allows recruiters to align recruitment resources with long-term hiring needs and business objectives.
1. Establish Your Budget
Available resources and allowed costs play a significant role in the hiring plan development. Therefore, you must determine the number of employees you will hire, recruitment costs (e.g., recruiters’ compensation, job board expenses, employer branding), fixed expenses (e.g., partnerships with relevant institutions, recruiting events), and technology costs.
However, it would be best to make projections regarding the cost-per-hire and whether you’ll include miscellaneous expenses, such as relocation packages or a career site redesign. Write down the data or use relevant technology to track your projections and ensure you don’t exceed the budget.
2. Assess Your Job Opening and Requirements
An adequate job description requires a thorough job opening assessment. Determine how the new job role will address existing skill gaps, whether there’s a long-term need for this opening, and what tasks it encompasses.
The next step is to establish the profile of your ideal candidate. Consider the abilities, competencies, knowledge, and experiences they should have to perform the job efficiently and contribute to long-lasting business success.
3. Determine Where You’ll Look for the Best Candidates
Identify where you will start looking for top talents and share your job posting. Consider the job boards and platforms you’ll turn to and whether you’ll leverage niche employment sites.
Moreover, consider what social media platforms you’ll use to reach your target audience. For example, young Millennials are loyal to Instagram, but Generation Z spends most of their time on TikTok and Discord.
4. Identify Whether You Plan to Use ATS or a Similar Recruitment Software
An efficient hiring plan must include what technologies you’ll use and whether you’ll automate the hiring process to reduce the time-to-hire and recruitment costs. Consider having a hiring management system to access advanced AI analytics, ensure consistency, improve efficiency, and reduce high-cost mistakes.
For instance, a free ATS will accelerate the hiring process by taking care of manual tasks and allowing you to direct your efforts toward more strategic pursuits. Hence, free applicant tracking software could lower recruitment expenses by speeding up your activities and increasing accuracy.
5. Decide How You’ll Conduct Interviews
Although many companies have returned to in-person recruitment, video interviews allow you to reach more talented candidates. However, this step also includes certain expenses.
If you plan online interviews, you’ll need relevant technology that enables it. Although face-to-face interviews may be more cost-efficient, you should consider the location and whether recruiters might put in extra hours to conduct them.
Even though developing a hiring plan can be lengthy and demanding, it’s crucial for a well-planned recruitment process and strategy development. It also helps you determine budget limits and an action plan.
Deciding to use a recruitment platform like HireTalent allows you to reduce the time needed to hire and lower your expenses. Do you want to know how HireTalent can automate your hiring process?