how to reduce hiring costs with randstad.

To succeed as a business, you need access to top-quality talent. But we all know how expensive sourcing, interviewing and onboarding potential candidates can be. One of your procurement team's main goals is to make these hires as cost-effective as possible.

You can better control your spending and make the most of your workforce by understanding:

• Where you currently stand
• How to optimize business costs
• Where you have opportunities to boost productivity

That's where external recruitment agencies like Randstad come in. We provide customized solutions across various industries, specializing in high-volume hiring to support your contingent talent strategy while driving cost savings.

So, what recruiting strategies can help you reduce hiring costs and increase profits?

in-depth understanding of your business

We find the areas where you have the biggest opportunities to cut costs and be more financially efficient. But first, you need to understand where your business stands, including how to:

• improve efficiency
• reduce waste
• find opportunities for cost reduction

We support you by providing insights and doing a detailed business scan. This involves our dedicated Randstad process managers, also known as workforce analysts, working closely with stakeholders from different areas of your company — like management, training, operations, HR and procurement — to get a clear picture of where you are now, where you want to go and what steps you need to take to get there.

Your dedicated process manager will help your business understand workforce operations better by asking questions like:

• What are your key business objectives? Do you want to increase revenue, reduce costs or both?
• How do these goals connect to your workforce?
• How do you build a streamlined hiring process? What steps involve finding and selecting candidates, and how much does this cost?
• What are you spending on vital new-hire activities like induction, onboarding and training?
• How do you build a healthy candidate pipeline?
• What costs do you face because of absenteeism and staff turnover?

Based on this understanding of your current situation — called your zero measurement — we can identify the best actions to improve efficiency and reduce your hiring costs.

reduce hiring costs without sacrificing productivity

onboarding

One of the main ways we cut labour costs is by improving your onboarding process. Effective onboarding is key to getting new staff comfortable and productive fast.

For larger businesses that rely on contingent staff, regular onboarding can get expensive, especially if it's not done efficiently.

Randstad's expertise lets us take over your onboarding process and make it more efficient. We use technology, like automation, to save time and make the best use of resources.

training and development

Overtraining is a particularly common issue. Are you wasting time and money on equipping people with skills that aren’t essential for their roles? We can help you identify these inefficiencies and offer advice on optimizing your training.

turnover

Another common goal is employee retention. After all, if you can retain your valuable staff for as long as possible, the amount you spend in the long run on recruiting, onboarding and training new staff will be reduced.

Managing expenses is crucial, particularly in industries such as car manufacturing or pharmaceuticals. In these industries, new employees often require extensive training and preparation before they can start being productive.

To reduce turnover, it’s important to hire people who have the right skills and experience and fit well with your company culture. This will help prevent them from leaving soon after joining and prevent the costs associated with a bad hire.

technology

Technology is key to optimizing your processes. We can help you find the best talent with our AI-powered talent platform and pool of trusted, experienced candidates.

Efficient scheduling helps you make the most of available resources and optimize workforce utilization. Crucially, methods like these make it possible for you to save time and reduce costs, without sacrificing productivity.

our history of proven results

Our approach centres on understanding your workforce and identifying opportunities to minimize costs without losing productivity. It’s delivered results for businesses in a range of industries around the world.