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To help you build a compelling business case for investing in new recruiting tools, we asked HR managers and technical recruiters for their best strategies. From focusing on data-driven research to presenting industry success stories, here are the top seven strategies these professionals shared.
Focus on Data-Driven Research Highlight Opportunity Cost Showcase ROI and Accuracy Enhance Employer Branding Emphasize Cost Reductions Ensure Seamless Integration Present Industry Success Stories Focus on Data-Driven Research
Data-driven research is absolutely essential when developing a business case for purchasing new recruitment technologies. From my own experience, concentrating on measuring the possible return on investment is the most effective strategy. Examining our present recruiting statistics in great detail has been one tactic I have found to be really successful. I’ll review items such as applicant pipeline conversion rates, cost-per-hire, and time-to-hire.
For instance, I dealt with a customer whose 45 days of average time-to-hire was reduced. We projected a 20% savings by including a recruiting automation system, therefore reducing it to 36 days. By use of variables like lowered overtime, lost productivity, and opportunity cost, quantifying the impact in actual dollars helped create a strong financial case.
Another approach I’ve found valuable is benchmarking
