Tag Archives | Short|LYST

5 Ways to Reduce Costs When Hiring

Hiring is one of the many costs that are often overlooked in a company. Whether a company notices or not, hiring costs can be high. Unfortunately, there is no way to completely avoid them because you need people to run your business. However, there are some things you can do to minimize these costs without affecting the candidate quality.

5 Ways to Reduce Costs When Hiring

Here are 5 ways to reduce costs when hiring.

Screen Candidates

Start from the beginning of the hiring process and screen the candidates. The more ways you funnel out your candidates, the less unnecessary time you will spend on unqualified ones. Start by sorting the resumes between the immediate throw-aways and the potential candidates. Then, call those candidates that you want to learn more about. You can screen candidates in various methods including the following:

  • Having a very clear and detailed job posting that specifically asks for qualified workers and waves off unqualified ones
  • Preparing proper interview questions that can notify right away whether the candidate is suited for the position or not (location, certifications, personality, reason for leaving previous job)

The screening call should only take you a few minutes for each candidate. In addition, you should be able to quickly identify who you want to interview and who you do not want to see again.

Going through this process will provide you with a short list of quality applicants, thus saving your company time and money.

You can also provide an assessment test that puts the candidate in an actual job situation.

Don’t want to screen candidates? Let us to the work for you! Short|LYST completes the hiring process up until the actual hiring of the candidate. Learn more about Short|LYST here.

Utilize Job Boards

Whether you have a job board on your website or have an account with a job board like Indeed, utilize those job boards. If you do not get a lot of traffic to your website or have a huge email list, then use a board like Indeed or Monster.com. However, if your website is already optimized, then use it!

Social Media

In addition, social media is at the palm of your hand. Various recruiters are now using social media to find candidates, whether it is through Facebook’s new job posting feature or LinkedIn’s job board.  Not only can you use these platforms to post and promote company announcements, but you can also use them to communicate directly with potential candidates.

Ask Employees to Refer Qualified Candidates

Instead of wasting so much time collecting various applicants from different sources, ask some of your trusted employees if they know anyone that could be suitable for the open position. In fact in a 2015 SilkRoad study, employee referrals produced more hires than any other source studied. Referred candidates are usually of higher quality and are more likely to feel connected to company culture once hired.

Use Short|LYST

The last way to reduce costs when hiring is to use Short|LYST. What is Short|LYST? This platform is revolutionizing the hiring process. First, the candidates apply to one company (The Strategic CFO). We take care of the entire hiring process up until making the decision to hire. Then employers search Short|LYST for their perfect candidate. These candidates have been screened interviewed, vetted, and recommended for hire. Learn more about Short|LYST here.

Reduce Costs When Hiring


Reduce Costs When Hiring

Reduce Costs When Hiring

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The Pain of Hiring | How We Are Altering the Hiring Process

When a company decides it is time to hire someone, it can be an exhausting process. From job postings to interviews, a lot of time and money goes into a company’s hiring process. While hiring can be a burden, it is crucial for a company’s development and success. Let’s dig into the pain of hiring.

The Pain of Hiring

Here are some of the potential downsides that come with the hiring process.

Cost

Hiring provides you with new struggles and worries that might really affect your wallet. First, you must pay for the job posting if you sponsor a job ad. Depending on who your target market and outreach is, this costs a hefty buck. No one’s time is free. After that you or your employees have to spend time interviewing them, you have accumulated a lot of paid time focusing on that position. Now, once you have screened your candidates, there are various routine procedures that can add on to the cost, such as assessment tests, drug tests, and background checks.

Time

Not only does the hiring process impact your financials, it also takes a lot of your time. Countless number of hours go into finding the perfect candidate. From the interviews to the training, time keeps ticking. That is valuable time that you could have been spent elsewhere improving the company, making sales, or retaining customers. Time is money!

Hiring the Wrong Person

Even after spending a lot of your company’s time and money, you still run the risk of hiring the wrong person for the job. If you hire the wrong person, then not only do you have to go through the hiring process all over again, but it can also cost the company in a variety of ways. From decreasing company productivity to impacting customer relationships, hiring the wrong person can have large negative effect. In addition, terminating the new hire can also be a difficult task that is avoidable if you screen, interview, and vet properly.

Learn what to look for when hiring with our 5 Guiding Principles to Recruiting a Star-Quality Team.

How We Are Altering the Hiring Process

Here at The Strategic CFO, we have developed our own unique version of hiring that can save you countless amounts of time and money. Instead of screening hundreds of candidates, interviewing dozens more, and risking not even finding the right candidate, Short|LYST does that all for you. Our team of experienced HR and financial executives take the financial and time burden off from the employers. All the employer has to do is pick and choose which recommended candidate they want to take forward. Learn more about Short|LYST here.

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How to Improve Your Resume

The concept of resumes might seem difficult to grasp at times. After all, you’re set with the task of conveying all of your life’s accomplishments and skills in a single sheet of paper. Creating a good resume is an essential skill necessary to be successful in the workforce. A good resume can be the difference between getting your dream job or not. In this blog, we will demonstrate some tips on how to improve your resume.

How to Improve Your Resume

Make Your Resume Stand Out

Recruiters have the task of going through countless number of resumes, so it is crucial that yours stands out from the pack. This doesn’t mean to have exotic fonts or arrangements, but it should convey your accomplishments and skills in an order that could be best perceived by the reader. Here are some tips that could help make your resume stand out:

Tailor Your Resume

Tailor your resume to the specific role you are applying for. Make sure that you are emphasizing the skills and experiences that are most relevant for the position you look to apply to. Completely read and understand the job you are applying for and make it clear in your resume why you are applying.

Use Keywords

Most companies and recruiters now use keywords to find the qualified candidates. If you don’t use the correct ones, your resume can be left out by the electronic applicant tracking systems.  To help you find the best keywords, try looking into online job postings and the company website.

Proofread

Proofread it and ensure that there are absolutely no errors Read it line by line, read it backwards and read it aloud until you are absolutely sure that there are no errors. Mistakes whether big or small can have a significant impact on the recruiter’s decision. A simple mistake can make it seem like you are not actually “Detail Oriented” or that you are a “Perfectionist” and can lead to the difference between getting a call back or not.

Be Professional

Use a profesional format that is easy to read. Recruiters and hiring managers can see straight through the fancy fonts and colors. They want to get straight to the point so make sure you have a profesional format that is easy to read and pleasing to the eye.

Bullet Points

Use bullet points not paragraphs. Be aware that recruiters have a lot of other resumes to look at, so make your information concise and to the point, nobody wants to read a long paragraph that could have easily been summarized in a bullet point or two.

Quantify

Quantify your previous accomplishments by using metrics. Don’t just put your previous job responsibilities but explain how well you did in them. For example: All Basketball players have the responsibility to put the ball in the basket, but the things that really differentiate them is how often they do that and how good they are at doing that. Use numbers to show how you excelled in your previous jobs and how it can lead to success in this new job.

Have a Cover Letter

Add a cover letter to set yourself apart. Almost half of recruiters said specifically that a cover letter can set your resume apart from the others. Cover letter let you show your personality and build a rapport. The only time you should not write a cover letter is when the job you’re applying to specifically says not too. In any other scenario it can provide you with an extra edge, so why not spend a little extra time on the cover letter if it may mean you increase your likelihood of getting a callback.

Hyperlink

If the application is online, add hyperlinks to your online profiles. This will make it easier for them by linking your profiles such as your LinkedIn, your personal website, or your blog. However, if the resume is online, making it a hyperlink can immediately send them to the designated website within seconds. Make sure you also tune up your websites before that.

Things That Shouldn’t Be On Your Resume

When you upload a resume, you are competing with numerous other people for the hiring managers attention. While there are many ways to make your resume more noticeable, there are certainly ways to make it look inferior. There are various steps and measures that you can take to prevent your resume from appearing substandard.

Here are several key things you shouldn’t put on your resume, including the following:

Also, don’t post in a Word document. The formatting may be different depending on how views it. Save your resume as a PDF.

What Recruiters Look For

According to a poll made by CareerBuilder, recruiters said would make them pay more attention to certain resumes :

  • Tailored to their position: 61%
  • Cover letter: 49%
  • Addressed to the hiring manager or recruiter by name: 26%
  • Hyperlinks to the applicant’s online portfolio, blog, or website: 21%

Instead of applying for multiple companies, interviewing for hours, and risking not even finding the right job, Short|LYST is the one stop shop for connecting you to our network of employers. Our team of experienced HR and financial executives take the financial and time burden off of both the candidates and the employers. All the candidate has to do is apply for Short|LYST then be vetted and listed. Learn more about Short|LYST here.

How to Improve your Resume

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What the Current Hiring Process Costs

It’s hard for companies to realize how much they are actually spending when it comes to hiring a new employee. Once they decide it’s time to pursue a new worker, a lot of resources are used to find the perfect candidate for the job. Finding the perfect candidate within a vast number of people might be very difficult, therefore costing a significant amount of time and money to the company. There are certain steps a company can take in order to minimize these costs. In this blog, we will walk through what the current hiring process costs.

What the Current Hiring Process CostsContemplating Profits and Cash Flow

Hiring and recruiting a new employee costs the company a lot more than just their salary. Recruitment costs are very often overlooked. Recruiters spend countless number of hours trying to find the perfect candidate for their needs, leading them to go through extensive research on countless number of candidates. This research, however, is not free. Finding the perfect candidate comes with a price. Let’s look at what the current hiring process costs:

Suppose you pay your recruiter $75 an hour and he looks through 100 resumes, each for 20 seconds:

$75 x (20s x 100 Resumes) 

Let’s assume that 10% of those applicants now get an interview lasting an average of 1.5 hours:

$75 x (20s x 100 resumes) + (10 x 1.5 hours)

On top of that, lets presume 10% of those interviews make it to a second round:

$75 x [(20s x 100 resumes) + (10 x 1.5 hours) + (1 x 1.5 hours)]

That’s a total of 17 hours and for $75 and hour you ended up paying your recruiter:

17 x $75 = $1,275!

That is not even adding the cost that you spent advertising for the job posting, drug tests, background pre-screenings or assessment tests!

As you can see, hiring a worker is clearly not free, it can come with various unexpected costs that sometimes can go unnoticed. Companies should take proper measures to minimize these costs because as you can see above, each recruiting process can cost a hefty amount.

This poll was administered online in the U.S. by Harris Interactive©

Impact of a Bad Hire

Even after spending countless amounts of time and money finding the perfect candidate, companies still run the risk of a bad hire. Maybe they needed to fill the job quickly, maybe they didn’t have enough talent intelligence, or maybe it was just an honest mistake. But hiring the wrong person can have significant effects on the company’s performance. Hiring a person that does not provide value to the company can be critical hit to the company’s development. Not only does it waste the company money, but it can also have a negative influence on company culture. Be cautious when it comes to hiring a new employee and take proper measures to properly decide on the best candidate.

Tips to Improve Your Recruiting Process

Once you realize it is time for your company to hire someone, it’s a chore finding the correct person for the job. From the marketing to the interviews, it can be very important how you go about this process. Or you risk missing out on great potential candidates when you do things imperfectly. Here are some tips to improve your recruiting process:

Have an Accurate Job Description

Thoroughly define what exactly are the duties and responsibilities you are looking for and add these to the job description. Make sure they are as clear and accurate as possible. Try to have a job posting that will attract qualified candidates and discourages others. This will help you save a considerable amount of time in the screening process.

Advertise Your Job

Do some research on what type of job posting resources will work the best for your company, whether its posting online, in a school placement office, or through an employment agency. The way you find you candidates can have a remarkable difference on the quality of your applicants.

Compare Applicants

Think of what your ideal candidate will look like. Then, have a strict screening process that would weed out applicants that would not be suitable for your company. After this, rank your remaining candidates in order from most to least suitable. You can also choose to have an assessment test that would measure their abilities in an actual job-like situation.

Show Them Why They Should Work For You 

Once you have chosen your ideal candidate, now it’s your turn to sell him on the job. Remember that the strongest candidates will always have more opportunities. Hiring is a two-way street, so make sure you convince your candidate by communicating a strong vision and mission for your business with enthusiasm and sincerity.

Bypass the Current Hiring Process

It’s 2018. With private companies launching rockets into space and technology recognizing faces, the question we asked ourselves was… Why is the current hiring process the same? Everything else from time keeping programs to communication software to automation has allowed businesses to succeed in 2018. There had to be some revolution to the hiring process, but the only changes in the past couple of decades are search firms, head hunters, and recruiters. That’s why we created Short|LYST. It allows employers to bypass the current hiring process and cut the current hiring process at least in half.

Instead of screening hundreds of candidates, interviewing dozens more, and risking not even finding the right candidate, Short|LYST does that all for you. Our team of experienced HR and financial executives take the financial and time burden off from the employers. All the employer has to do is pick and choose which recommended candidate they want to take forward. Learn more about Short|LYST here.

What the Current Hiring Process Costs


what the current hiring process costs

what the current hiring process costs

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When You Know It’s the Right Hire

Hiring is an important aspect in a company’s development. When you know it’s the right hire, it can benefit the company in countless number of ways, such as saving money, increasing productivity, and improving employee morale. However, when done incorrectly, it can damage the company significantly. A company should always be able to determine whether the person they hired is truly beneficial to their organization. Below you can find some tips that can help you know whether your new hire is a correct fit for your company or not.

Is it time to hire?

Is it time to hire? Do you feel theres a need for an extra hand in the workplace? Or maybe you need a fresh mind to help your creativity? If the answer is yes, then it is time to hire. If you are constantly feeling burnt out and frequently running out of creative ideas, then extra help is crucial. Without extra help, the quality of your work may hinder and that could essentially lead to lower company performance.

Adding a new member to your team can have a significant impact. Hiring a new employee can help increase efficiency, performance, and creativity. By hiring a new employee, you decrease project work time, bring in new ideas, and get a brand-new perspective.

If it’s time for you to hire, consider the costs associated with hiring. Our team has created a platform called Short|LYST that connects employers to employees that we would hire ourselves. Learn more about Short|LYST here.

When You Know It’s the Right Hire

A new hire should be an asset to the company. They should provide value and bring in more than they cost. Finding the right hire might be difficult, but once you find the right hire, it will be all worth it.

A new hire should always have the correct skillset, be reliable, and produce quality work. A new employee should be comfortable in the job and everyone in the office should be comfortable with him. A recent hire should be able to provide quality work and should be adaptable to various circumstances and scenarios. He should be easy to train as well as being comfortable to learning new things at a constant pace.

According to Forbes Magazine, the following 15 traits indicate an ideal employee:

When You Know It's the Right Hire

  1. Action oriented
  2. Intelligent
  3. Ambitious
  4. Autonomous
  5. Leader
  6. Fits with Culture
  7. Upbeat
  8. Confident
  9. Successful
  10. Honest
  11. Detail-Oriented
  12. Modest
  13. Hard-Working
  14. Marketable
  15. Passionate

When you know it’s the right hire, you should feel at peace. There shouldn’t be any conflict in your mind. The hiring text books will tell you that there’s a science to hiring. But you have to realize that you are a human dealing with humans. At some point, you have to trust your gut feeling.

Signs It’s NOT the Right Hire

You can tell in the first few weeks of employment whether the new hire is a good fit. Even if they have a superb skillset or amazing abilities, sometimes it could be their mindset that could be unsuitable for the company. Their approach to the job and their character can be a huge predictor whether someone is fit for the company or not.

Here are some signs that he is not the correct candidate:

  • Work for their own benefit and not for the company’s.
  • Show Minimum Effort
  • Unreliable when needed
  • “High Maintenance”
  • Arrogant
  • Do only “good enough”
  • Unambitious
  • Stagnant

When You Know It's the Right HireTips for Hiring the Correct Person

Here are some tips for hiring the correct person.

Define what you’re looking for  Think of what the ideal candidate would look like. Completely define what duties and responsibilities you are looking for and add these to the job descriptions.

Attract a large pool of applicants Attract the maximum number of applicants that your time and budget allow. Research what type of job posting resources would work best for your company and use those.

Compare Applicants Rank the qualified candidates in order from most to least suitable. Implement various levels of screening in order to waste less time with under-qualified applicants. After you narrow down your list of applicants, create an assessment test that measures how they would perform in an actual job situation

Sell your ideal candidate. Once you have your ideal candidate, sell him the job. Remember that hiring someone is a two-way street. Communicate your strong vision and mission for your business with enthusiasm and sincerity. The strongest candidates will always have more opportunities, so make sure you convince the candidate that this job is the one he should be taking.

Hiring the Right Person

Start your hiring process with Short|LYST. Short|LYST offers candidates that we would hire ourselves for various accounting and financial positions. Each candidate is screened, interviewed, vetted, and recommended for hire. Interested? Learn more about Short|LYST here. When You Know It's the Right Hire


When You Know It's the Right Hire

When You Know It's the Right Hire

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