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How companies are reducing their average cost to hire, ETHRWorld
hr.economictimes.indiatimes.com | www.ETHRWorld.com
Highlights
- HMD Global builds an internal data bank for all the applicants and whenever there is a requirement for the similar roles in future then its talent acquisition team approaches the candidates who have shown the interest in the organisation to join.
- Aye Finance does the candidates’ background verification and psychometric assessment on its own through the in-house tools it has built. This has been a key differentiator in reducing the cost to hire. The company also doesn’t partner much with external vendors, and this has been a key differentiator in cutting the hiring costs.
- Anthology prioritises skill-based hiring over job role-based hiring. The hiring process is candidate centric in the organisation by doing skill-fitment first. The company offers several roles with similar skill fitments as a choice to prospective candidates.
- The gig economy also allows companies to hire freelancers and contract workers, reducing full-time employment costs.
Talent Acquisition is…
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