How to Carry Out a Correct Recruitment and Selection Process?

A very common question in the human talent area is how to carry out a correct recruitment and selection process, and they often overlook the complex process of hiring and selecting while complying with the allocated budget. However, the process is extremely important for the long-term success of the company and for achieving its objectives.

Companies that are more thorough in their recruitment and selection process tend to have a lower turnover rate. That said, in general, a company that takes more time to search for the right candidate can find one that fits both the position and the company's work environment. Having the right recruitment strategy is vital!

In this post, we will share with you the main steps to ensure a successful recruitment and selection process. We will also add some crucial tips on how to select the right candidate for the job and, most importantly, the hidden cost of hiring that many employers forget about, and what to consider when budgeting for the hiring process.

Importance of finding the right candidate during the recruitment and selection process

Investing in human resources and the hiring process is a must! If you don't, you run a high risk of hiring people who are not suitable for the job, which in turn would generate more expenses. A poor hiring strategy costs the company time and money, but more importantly, overall productivity is at risk if the wrong person is brought into the team. With so much at stake, you should definitely put emphasis on the hiring and selection process.

It is advisable that in the age of social media, it is helpful to look at the social media profiles of the top candidates to get a real sense of their personality. If you are having trouble selecting between candidates, this is a great way to narrow down the pool.

However, remember that although social media gives us an insight into someone's personality, we should not judge them solely by their appearance on social media.

What is the recruitment and selection process?

A selection process is made up of several steps that together form the hiring process.

There are many reasons why a company would open up the hiring process; here are a few:

✅ Complete a temporary absence from the team (maternity leave, medical leave, etc.)

✅ Replace a staff member who has retired.

✅ There is an increase in work and additional personnel are required to perform the work.

✅ The company is starting a new adventure.

✅ To fill a newly created position.

Before starting to look for the ideal candidate , the recruiter must first analyze the characteristics of the position, the number of vacancies to be filled, the type of candidate profile they wish to find and establish the actions necessary to follow up on the process. Finally, the company will calculate the cost of the selection and recruitment process to determine its viability or not.

Why is it necessary to budget the recruitment and selection process?

How to carry out a correct recruitment and selection process without going over budget is a subject that is largely unknown and not well controlled by the hiring manager or human resources managers. In reality, a recruitment and selection process generates a massive economic cost for the company. To ensure that the process does not generate losses later, it is vital to invest in the staff recruitment process.

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Steps of the recruitment and selection process:

1. Acquisition – Selection

The process of selecting the right candidate for the job offer involves several steps. If you are wondering what the first step in the recruitment and selection process is, read on.

2. Job Description Offer

A transparent and detailed job description is essential to finding the ideal candidate for the vacancy. The job description should be very clear about what the position entails.

Additionally, when writing the perfect job description, you need to state the necessary skills, knowledge, and experience that are required.

3. Advertising the offer

The first thing you need to do to find the right candidate is to define the requirements and post the offer in the right place. For some companies, specialized job boards may be the best place to connect with job seekers. Other companies may choose to advertise their offer through their website or expand their reach by advertising on billboards, newspapers or on the radio. Additionally, social media is a great resource to use when advertising your job openings.

4. CV selection

After collecting all the resumes, you need to narrow down the selection. After this, it is time to select the candidates that fit the requirements of the position.

5. Conducting personal interviews

This is the best way to get to know potential employees better and understand whether they would be a good match for the company. In addition, phone calls to conduct interviews are beneficial for recruiters to shortlist candidates.

6. Trial period

You may choose to conduct tests (i.e. psychological or role-specific tests) to ensure that candidates meet the requirements of the position. For example, you can have candidates answer a series of questions that help the recruiter get to know them better. These tests may include an analysis of a candidate's problem-solving skills.

7. Evaluation and selection of the best candidates

Evaluating the interview and test results of qualified candidates allows you to narrow your search and find the ideal candidate to fill the position. Using an applicant tracking system, such as the one offered by Factorial, can keep you on track and help streamline the hiring process.

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Hiring Cost: Budgeting the Hiring and Selection Process

To accurately budget the selection process, it is essential to understand the difference between direct and indirect costs.

direct costs

These are the costs directly linked to the hiring process. Some of these may include;

Advertising the offer

✅ Materials required by employees conducting candidate testing

✅ The test itself

✅ Space for interviews

✅ Food and accommodation (if applicable for hiring)

✅ Employee salary cost

✅ Indirect costs

Indirect costs

These are expenses shared between other departments of the company, which are not included in the budget as a whole. Instead, the costs are divided into the budgets of the different departments they serve.

What to do when the budget for recruitment and selection of personnel is limited?

In the event that the total cost of hiring is higher than the allocated budget, adjustments can be made. You may consider reducing some of the expenses involved in the process, whether direct or indirect. For example, instead of renting a space and conducting in-person interviews, you may opt for video interviews. Another option is to reduce the number of external candidates and consider some internal promotion.

You now have the keys to calculating the total cost of the process. Implementing this content into your hiring plan can increase the overall profitability and success of the company. Remember, with every new hire, it is necessary to recalculate the hiring costs. When you do this, the company has the opportunity to reevaluate its expenses and make adjustments.

How to carry out a correct Recruitment and Selection process appropriately and in the expected time frame in a job that requires a lot of perseverance and strategy to attract the best talent available in the market

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