Staffing Budgets: How to Make the Most of Your Investment

As an manager, you need to practice continuous improvement when it comes to your staffing budget. Develop sensible strategies that make the most sense for your short- and long-term needs – and for the success of your business.

Use performance reviews to plan.

Annual performance reviews provide invaluable insight into how current employees are handling their duties and where weaknesses – or “skills gaps” – are occurring. They are packed with information that can help you to lead your existing staff more effectively and also find better candidates for future hire. Analyze this data carefully to predict your staffing needs.

Enhance retention through stronger recruiting.

Better sourcing and screening results in a more robust candidate pool, which allows you to make higher quality hires and avoid costly mistakes.

  • When fit improves, so does retention. The more feedback you offer your recruiters about each new hire, the better your pool becomes, which directly influences recruiting and retention quality.
  • Hire and keep better people. Taking your time recruiting enables you to find the very best talent and attract them to your organization for the long term.

Improve your onboarding.

The first weeks on the job are crucial to the overall success of your hires. Go beyond simple “orientation” to fully immerse new employees into your culture and get them up to speed more quickly. This will have a positive impact on productivity and reduce turnover in a new team member’s early months.

Build a talent pipeline.

Interview your most desired candidates on an ongoing basis to ensure you build relationships with them. This way, you have ready access to A-level talent when openings arise.

  • Create a bench of talent, including passive candidates. You can then reach out to them as soon as you’re ready, versus having to scramble and start from scratch. Leverage your recruiting firm’s connections and expertise to help you find and engage passive talent.

Consider temporary staff.

Temporary staff can help your company tackle one-time projects, fill in for absences, or clear backlogs during your busiest times of the year. This also gives you the opportunity to “try before your buy” with no obligation if temps fall short of your expectations.

  • Save money. Because temporary workers are employed by your staffing firm, your company gets the help it needs without the added cost of payroll or benefits obligations. You pay temps only for hours actually worked – and you are spared the bulk of related administrative expenses.

Stay connected to your staffing firm.

Your specialized recruitment firm provides you with experts who can connect you to talent with the skill set and personality for your business-critical roles. Work closely with them and you can reduce costs, deepen your talent pool, and ultimately achieve greater productivity and profitability.

The more you communicate and interact with your staffing firm regarding your company’s needs, the more the candidates will improve.

At Employment Professionals Canada, our experienced recruiters can help you staff more efficiently and stretch your annual staffing budget further. Contact us today to learn more about our staffing services in Southern Ontario and beyond.