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Reducing Transaction Costs in Recruiting
I’m very interested in your opinion to this. Are you a recruiter, hiring manager, or job-seeker? Let me know what you think, please.
I’m thinking a lot these days about reducing transaction costs in recruiting/hiring. I see these costs expended in many ways: Time, Energy, Money, Human Intervention, etc. These costs show up in the form of writing job ads, posting them, paying for them to be posted, collecting resumes, deleting SPAM from resumes, fishing through resumes, screening, testing, checking and interviewing candidates, etc, etc, etc. All of these costs create friction and drag through the hiring process. Naturally, it makes sense to reduce them to zero as much as possible.
Clearly, there is much to be gained from reducing these costs, especially time and money. It could be huge for everyone, if executed correctly. What company wouldn’t want an easier way to find very good matches for their jobs? What candidate wouldn’t want an easier way to land the job they really want?
For example, Indeed, SimplyHired, Jobster, and TheLadders are going full-speed ahead with driving these costs down, or redirecting them.
Yet as simplified as these services might be, there is still someone producing the message, a delivery medium (layered or unlayered), the reception of the message, and appropriate feedback given through a channel that can be captured and processed appropriately. These various steps are where I am trying to reduce costs–especially in the area of appropriate feedback!
The odd part here is that some would say that I am a cost that should be eliminated since some view me simply as a middleman between job candidates and hiring employers. I can not deny that truth in some respects, unless my presence here acts more like the marketplace for talent, not a barrier to a company’s success in finding quality candidates. My purpose is to create the ideal cicruimstances in which a brainstorm of excellent recruiting can take place.
How can that be created? What would it feel like? What costs can you clearly see that can be eliminated easilly? Please leave comments and share your thoughts with me.
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4 comments for “Reducing Transaction Costs in Recruiting”
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John Sumser of Electronic Recruiting News gave me this feedback by email (published with permission):
Recruiting transaction costs
I agree there is a natural tendency to try to reduce transactional costs, but in my opinion, recruiting as it is presently constituted is a result of the attempt to reduce costs. Employing people isn’t like buying widgets. The attempts to reduce the…
[...] As technologies are rapidly driving down the transaction costs in recruiting, I am keeping my eyes and ears wide open to the newest and most-valuable ways to close the gap between companies and excellent, talented people. Above all, I welcome the change that is coming, though many in the industry may fear it. [...]
Currently, we are looking to fill a number of regional recruiting positions, located in almost every location of the country. These positions
offer a solid salary, bonus, equity, and company car. In addition, relocation would be provided, so if there was ever a time you wanted to look at another
part of the country, now would be the time. The regional recruiters would be responsible for recruiting field based management positions including regional
H.R. directors, market H.R. managers, Store managers, co-managers, assistant managers, etc. These recruiters would not be responsible for the hourly recruiting
but would provide training an guidance to other H.R. staff members on how to recruit and regain hourly talent. This is an exciting opportunity for talented,
driven, and experienced recruiters. The position will require up to 70% travel in your assigned region. As we have a number of positions to fill, please
forward on to your recruiting partners as well. Relocation is provided. A list of locations is provided below. Please submit all resumes and or questions
to
ryan.loken@wal-mart.com
I look forward to working with you soon.
Baltimore, MD
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Nevada Anywhere
Washington Anywhere
Missouri Anywhere
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