At Payroll Vault, many of our clients are young business owners looking to find appropriate applicants for their available job positions. While we have our own recruitment strategy when it comes to choosing the most qualified applicants for your company, below are a few recruitment tips to remember for entrepreneurs involved in the hiring process.

interview meeting at officeGreat Applicants Are In High Demand

If you own your own business, you’ve probably been following your own recruitment strategy when it comes to hiring qualified candidates. Whether your current recruitment strategy is working wonders or barely working at all, always remember to contact high quality leads quickly after an initial interview. If you’re interested in an applicant because of their background and work history, chances are other companies are interested in them too. Don’t wait to contact an applicant who may be in high demand!

Understand The Costs Involved In Hiring

If you feel your company is growing at a steady pace and you need to hire more employees, it’s always best to have a clear understanding of all of the costs involved in the hiring process. While it may seem like you desperately need another pair of a hands in the workplace, the cost to hire a new employee could be more than you were hoping pay. Common costs to consider include:

Recruiting Costs

Before hiring your next employee, consider the costs of advertising the position you are looking to fill. Whether you’re using a third party recruitment company or taking the time to interview each candidate on your own, time and money goes into each candidate you interview.

Salary

If you’re hiring for a new position within your company, be sure to research similar job salaries so you have a clear understanding of how much money you can offer a new employee. Also keep in mind the cost of taxes, workers compensation, social security, unemployment and medicare.

Benefits

If your company offers benefits to full-time and part-time employees, it’s important to consider how much it will cost your company to add another employer onto the plan.

Onboarding

Onboarding a new employee can be time consuming and expensive. Depending on the training resources you need to provide as well as the amount of time it will take the new employee get a grasp of their duties, it could be months before they are actually productive.

At Payroll Vault, we understand how time consuming and expensive it can be to weed through potential job applicants. When you own a small to large business, it can be challenging trying to juggle all of the tasks required of your day-to-day operations, especially when it comes to hiring. When you work with Payroll Vault, our certified HR professionals will work with your company to provide customized HR solutions to fit your individual concerns. From recruitment strategies to background checks and drug screenings, we’re happy to help you manage all of your payroll and workforce needs. Contact our payroll specialists today to learn how we can help your business!