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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.

<p>Besides eyeing for the right hires, reducing the cost of hiring is also a big deal for organisations to save the HR budget and allocate the resources to other critical areas in HR.</p>
Besides eyeing for the right hires, reducing the cost of hiring is also a big deal for organisations to save the HR budget and allocate the resources to other critical areas in HR.

Talent Acquisition is…


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