July 2004 Newsletter
July 2004 newsletter
Welcome to our July edition of PageUp?s e-newsletter. Recruitment costs can be broken down into 3 main categories ? sourcing the candidates, man hours involved in the recruiting process and interviewing & testing. In this months issue of PageUp e-news we look at how you should track sourcing channels to lower your advertising costs.
In this edition...
- 2004 Telstra & Australian Government Small Business Awards
- Reducing your recruitment costs - Part 1
- Staff Weekend away - Team Building at Warburton
- Upcoming Event - Melbourne, July 28th
2004 Telstra & Australian Government Small Business Awards
PageUp has been selected as a state finalist in the 2004 Telstra & Australian Government Small Business Awards. The stringent selection process required a 20 page application covering issues critical to small businesses planning, human resources and finance. The most outstanding companies were then short listed and the judges conducted a site visit for further evaluation. Following this, the finalists were then contacted about their success. As one judge said, he was looking for a company that he could proudly show to foreigners as a great example of an Australian business. The State finals awards night is being held on Tuesday July 6th. Fingers crossed for PageUp!
Reducing your recruitment costs - Part 1
'Tracking your sourcing channels for better candidates and lower advertising costs'
Advertising for candidates can chew up as much as 50% of recruitment costs for some companies. While it is likely that spend of recruitment advertising dollars will continue to shift from newspapers to the internet as more job seekers move on-line, there is no guarantee that job board adverting costs will remain as competitive as they are today.
And print advertising will make a resurgence as more employers try to reach passive candidates, considered more desirable, who aren't actively searching. With unemployment levels at their lowest in 20 years, finding that special candidate is getting harder than ever.
For this reason it is important to track where your candidates come from. And not just your candidates, you need to track the source of your successful hires. There is no use placing an ad that attracts millions of candidates if you are not getting quality. Apart from wasted money spent on the actual ad, without an online recruitment system filtering and screening, you would waste even more time and money sorting through these inappropriate candidates.
Once you start collecting data on the source of successful hires you can look for patterns and adjust your advertising accordingly. Which channels do your successful hires tend to come from - print ads or online, agencies, referrals, a careers expo or some other sourcing channel? How many applications do you receive per channel? What variations do you notice per job type from different sourcing channels? What is the cost per ad? What is the advertising cost per successful hire? Below are some of the factors you should be tracking to maximise the value of your advertsing dollar.
Detailed below are features you need to track in order to understand how successful your advertising strategy is.
General
- Ad title - does it stand out from the others? Will it catch their eye?
- Ad Copy - Target the candidates you want. Don?t be misleading as this will only lead to unhappy staff, poor productivity and a high turnover.
Print media
- Colour or mon
- Section ie Sales, Telemarketing
- Placement position - display ad or lineage?
- Ad size
Advertising experts say colour and size do make a difference how can you be sure if you don't measure the success of your advertising campaigns?
Job boards
Different job boards seem to attract different types of candidates - do you know which job board gives you the best results? Are you targeting different roles on different job boards? How easy is it to find your ad on a job board?
Referrals
Referrals often already have a cultural fit. Companies that have an effective employee referral program can hire between 20 - 50% of their total hires per annum through this mechanism making referrals one of the most effective forms of recruitment. Do you have an employee referral program that is successfully marketed to your employees, customers and suppliers? How are you using your current employees to find new candidates?
Unsolicited applications
How your corporate brand is perceived in the market place will reflect your ability to attract quality candidates. Are you an employer of choice? Do you have a system to manage unsolicited applications for future positions?
Talent Pool
Are you building up your own talent pool of qualified and available candidates to search through prior to looking advertising externally? You can obtain cost and time savings if you implement an effective recruitment management system.
Staff Weekend away - Team Building at Warburton
On June 19th & 20th the entire PageUp team journeyed on a big double decker bus to the picturesque Yarra Valley Country Retreat in Warburton. Despite the icy weather and snow on near by Mt Donnabuang, a fun time was had by all with the team working together on PageUp's vision, a spot of trout fishing in the rain and some relaxing yoga. Day two consisted of some team building activities where lowering a stick to the ground has never been so hard! The weekend was finished off with a high ropes course including the daring ?leap of faith? from the top of a 13metre high pole.
Upcoming Event - Melbourne, July 28th
How are "Talent Pools" utilsed in today's recruitment processes"
To register your interest in this seminar please contact Nicola Billens on 03 9602 3300 or email nicolab@pageup.com.au .
PageUp
Head Office:
13 Somerset Place,
Melbourne 3000
03 9602 3300
Sydney:
Level 25, Chifley Tower,
Sydney 2000
02 9293 2913
info@pageup.com.au
www.pageup.com.au