When you’re working as a recruiter it can be hard to keep track of all the spending you’re doing. A thousand different job boards, SMS messaging, email campaigns, ads… And even if it all seems to be small amounts, when you add it all up, you’ll probably see a sum that will shock you.
This is why we decided to come to the rescue! We put together a fool-proof guide on how a good CRM can help you manage your recruitment costs and lower your spending.
1. Use job board credits to monitor your ad spending
In the current candidate short market, it is easy to overspend on job boards by posting multiple ads until you find the candidate you are looking for. And if you are lucky enough to have a CRM with a multi-posting feature and a wide array of integrated Job Boards, it can feel like wasting opportunities to only limit ourselves to one.
Making use of the Job Board Credits feature in Firefish you can easily set the limit for the number of ads you need to be posted each month by your team or even by individual recruiters. What’s more, you can also select individual job boards you want to be available to each member of the team and see a live total of the credits used! This way you can keep an eye on exactly how much you are spending and take the steps to control that spend… all from inside your CRM!
2. Make use of your report dashboards
It’s no secret that data is at the heart of everything we do as recruiters. We use it to better understand our candidates and control what’s happening in the market. We also collect pages and pages of it on a daily basis and store them in our CRM, often never to be seen again… But did you know that you can also use reporting dashboards to manage your budget?
For example, seeing exactly which job boards bring you the most applications will help you decide which ones to cut. And just like that, you’re already saving money! You can also map out your clients, which will allow you to see what their status is from cold leads, through warm prospects, and into established clients. Understanding each step of this process will show you exactly where you should be focusing your resources in terms of new business campaigns, as well as who to target for more existing roles and cross-selling purposes. After all, it is always cheaper to work with existing clients than to try and attract new ones!
3. Source and save with two-way SMS
SMS messaging is one of the most effective ways to reach and reengage candidates in today’s market - in fact, Firefish users have seen a 98% open rate on SMS campaigns! It’s not ground-breaking news that SMS is a great communication tool between recruiters and candidates, but you probably didn’t think that two-way SMS can also help you manage costs and save money on sourcing campaigns.
Not only will you be accessing the candidates in your database that don’t carry the cost of job boards but you can also easily identify which phone numbers are invalid or repeatedly unresponsive. This allows you to cut those ones out of your messaging list. No wasted texts = more money in the bank! The best part? You can even cap the number of messages you and your recruiters send out, giving you the ultimate control of your spending.
4. Job Alerts
Along with Job Board Credits, another way to manage your spending on job boards is to look for alternative sourcing methods. Using Automated Job Alerts with Firefish you can gain as many as 16 times more applications per user each month! Allowing your CRM to source for you can drastically reduce your reliance on job boards.
You want more? Using automated Job Alerts can result in re-engaging more than 600 candidates a month from within your database! Although they may not actively apply for the role, this will bring passive candidates back to the table and allow you to discuss other roles with them. And that’s on top of sending them out on a speculative basis, saving you money on marketing campaigns and keeping your database active.
Don't hesitate and book a demo with Firefish to learn about all the other ways we can help you get ahead of the competition!
As Product Marketing Executive Andrew shows off all the Firefish features that help change the way you recruit. Keep an eye on our news page and social channels to see what's new with Firefish each month!