5 Hiring Resolutions for the New Year

2020 marks the beginning of a new year and a new decade, making it the perfect time to set new recruitment goals and resolutions that will fuel your business for years to come.

These five hiring resolutions that follow will help you win at work and in business.  

1. Write Clear Job Descriptions 

Writing a clear and detailed job description is a critical first step to recruiting the best candidate for your needs. 

Your job description should include: 

  • Job title
  • Key responsibilities
  • Deliverables and KPIs 
  • Hard and soft skillsets 
  • Experience and qualifications 
  • Educational requirements
  • Desired character, personality traits, working styles and attitudes

2. Build a Recruitment Budget 

To succeed in the months ahead, you must develop a broad recruitment budget that includes all of the costs associated with your annual recruitment needs. 

Costs to consider:

  • Estimate total number of hires over the year
  • Estimate recruitment costs
    • Job boards
    • Hiring in-house or externally?
    • Employer branding
  • Estimate fixed costs
    • Recruiting events
    • External recruiting agencies
  • Estimate recruitment technology costs
  • Estimate your miscellaneous hiring costs

3. Calculate Your Cost-Per-Hire  

To determine whether a new hire is worth investing in, you’ll need to consider all of the costs. 

These include:

  • Direct cost before hire
  • Time spent to hire
  • New hire performance
  • Onboarding spends
  • Retention

Once you’re clear on all of the expenses, calculate the cost per hire by using the following formula: CPH = [internal recruiting costs + external recruiting costs] / total number of hires

4. Review Your Benefits Package

One of the most effective strategies for retaining top talent is to work with your employees to develop a customizable compensation package that suits their unique needs. 

What is your 2020 compensation budget? Do you have fluidity in your package? Do you need to expand or reduce your offering?

Compensation packages may include: 

  • Base salary
  • Bonus incentives
  • RRSP contributions
  • Profit-sharing
  • Benefits
  • Health spending
  • Paid time off
  • Flex time
  • Employee discounts

…and more. 

5. Review Your Retention Model

Establishing and maintaining a positive employer-employee relationship requires careful thought and attention. 

To boost employee satisfaction, review and strengthen all areas of your retention model: 

  • Onboarding and orientation process
  • Mentorship
  • Employee compensation 
  • Recognition and rewards
  • Work-life balance 
  • Training and development
  • Communication and feedback 
  • Team celebration 

If you decide that 2020 is the time to refresh your recruitment efforts, trust BullsEye Recruitment to drive your recruitment strategy – providing the knowledge, advice and experience you need to find the right person the first time!

Book your consultation today!

P: 403.264.2242 

E: trevor@bullseyerecruitment.com

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