The cost of social recruitment can vary depending on the size and type of organization, as well as the features and functions of the social media platform(s) used says William D King. Generally speaking, employers can expect to spend anywhere from $500 to $5,000 per month on social recruitment initiatives.
Small businesses with fewer than 100 employees can expect to spend around $500 per month on social recruitment, while larger businesses with more than 1,000 employees can expect to spend upwards of $5,000 per month. Platforms like LinkedIn tend to be more expensive than general social media platforms like Facebook and Twitter, due to the number of features and functions they offer.
What Factors Influence Social Recruitment Costs?
There are a number of factors that can influence the cost of social recruitment, including:
1. The size and type of organization
2. The number of social media platforms used
3. The features and functions of each social media platform
4. The level of customization or integration required
5. The amount of staffing needed to manage the social recruitment initiative
6. The level of automation used
7. The amount of external support (consulting, outsourcing, etc.) needed
8. Geographic location
9. Time of year (recruitment volumes tend to be highest during the summer)
10. Competition for talent
What Are Some Alternatives to Traditional Recruitment Methods?
If social recruitment is not within your budget, or you are looking for alternative recruiting methods to traditional ones, there are a number of low-cost or no-cost methods you can consider, including:
1. Internal social sourcing using employee referral programs
2. Job boards and resume databases (free or low cost)
3. Social media job postings on your organization’s website
4. Career fairs and other networking events
5. College campus events and career center referrals
6. Volunteer programs and initiatives
7. Formalized internship programs
8. Video resumes and online portfolio sites such as YouTube, Vimeo, etc…
9. Public relations outreach (for example press releases highlighting hiring achievements)
10. Employee referral bonus programs
How Are Social Recruitment Costs Calculated?
The cost of social recruitment can vary depending on the size and type of organization, as well as the features and functions of the social media platform(s) used explains William D King. Generally speaking, employers can expect to spend anywhere from $500 to $5,000 per month on social recruitment initiatives.
1. The first step is to calculate the number of social media profiles you will need to manage and also monitor for your recruitment strategy. This includes the number of active job listings, as well as how many times they are likely to be viewed each month.
2. Next, determine which features and functions these profiles will require (e.g. hiring managers being able to see resumes from those who have applied, group discussions around company events, employee testimonials on their experience working for your organization, etc.).
3. Finally, determine the level of staffing you will need. This includes a number of social recruiters as well as their supervisors and/or managers. If you are going to outsource some or all of these activities, this cost should also be included in your calculations.
How Can an Agency Assist with Social Recruitment?
An agency can assist by doing what they do best – acting as an extension of your team and managing key functions that would otherwise fall under your purview (e.g., strategy development, candidate sourcing & outreach, workflow management). This can be a great way to minimize your workload, while still benefiting from the insights and strategies of an experienced social recruitment agency says, William D King.
There are a number of factors that can moreover influence the cost of social recruitment, including the size and type of organization, the number of social media platforms used, the features and functions of each platform, and the level of customization or integration required. Generally speaking, employers can expect to spend anywhere from $500 to $5,000 per month on social recruitment initiatives.
If social recruitment is not within your budget, there are a number of low-cost or no-cost methods you can also consider for recruiting new employees. These include internal social sourcing using employee referral programs, job boards and resume databases, social media job postings on your organization’s website, career fairs and other networking events, college campus events and career center referrals, volunteer programs and initiatives, formalized internship programs, video resumes, and online portfolio sites, public relations outreach (for example press releases highlighting hiring achievements), and employee referral bonus programs.
What Are the Benefits of Social Recruitment?
There are a number of benefits to using social media for recruiting new employees, including:
1. Increased reach –
Social media platforms have a large reach, which can help employers connect with more qualified candidates than traditional recruitment methods.
2. Cost-effective –
Social media recruitment is generally less expensive than other methods such as job or employment agencies.
3. Time-saving –
Social media recruitment can save time by allowing employers to screen candidates and also collect resumes electronically.
4. Increased efficiency –
Social media recruitment can help employers connect with more qualified candidates more quickly than traditional methods.
5. Greater flexibility –
Social media recruitment allows for a high degree of flexibility, making it easy to connect with potential candidates from anywhere in the world.
6. Easier access to information –
Social media platforms provide easy access to a wealth of information about potential candidates, including their educational backgrounds, work experience, and also professional networks.
7. Increased brand exposure –
Using social media for recruiting can help employers build awareness of their brand and attract top talent.
Social media provides a number of advantages for employers looking to recruit new employees explains William D King. Moreover, these include increased reach, cost-effectiveness, time-saving, increased efficiency, flexibility, and access to information. Additionally, social media can help employers build awareness of their brand and attract top talent. When used correctly, social media can be an extremely effective tool.