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Recruitment budgeting Budgeting for version 2.0
Recruitment 2.0 budgeting..! <ul><li>If recruitment now is about version 2.0, then budgeting for recruitment can’t remain ...
Recruitment 2.0 budgeting..! <ul><li>Budgeting MUST also evolve with Recruitment 2.0 happening now! (beginning to happen?)...
Recruitment 2.0 budgeting..! <ul><li>Most of these cost heads have remained, and are continued just because they are histo...
Recruitment 2.0 budgeting..! (What shall it comprise?) <ul><li>Ideally, the new budget overheads should be in sync with th...
The new budget…! <ul><ul><li>Some heads can be </li></ul></ul><ul><ul><li>Incentives to internal HR/recruitment team (expo...
Rules of the new budget <ul><li>Eliminate every single cost that is not justified or relevant for recruitment today. </li>...
See costs as investments, not expenditure… <ul><li>In the era of recruitment 2.0, you cannot measure RoI in year one. </li...
Think… <ul><li>It’s just a thought – and a call for a discussion to evaluate the current conventions in recruitment budget...
Thank you… <ul><li>Thanks for your time </li></ul><ul><li>Connect with me </li></ul><ul><ul><li>Mail –  [email_address] </...
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Recruitment budgeting

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Recruitment budgeting

  1. 1. Recruitment budgeting Budgeting for version 2.0
  2. 2. Recruitment 2.0 budgeting..! <ul><li>If recruitment now is about version 2.0, then budgeting for recruitment can’t remain the same as earlier. </li></ul><ul><li>Over the years, the way organizations budget for their internal recruitment has remained just as a percentage, with allocations based on historic data. </li></ul><ul><li>Is this the right approach? </li></ul>
  3. 3. Recruitment 2.0 budgeting..! <ul><li>Budgeting MUST also evolve with Recruitment 2.0 happening now! (beginning to happen?) </li></ul><ul><li>Traditional recruitment budgets included – </li></ul><ul><ul><li>Cost of newspaper adverts </li></ul></ul><ul><ul><li>Internal referrals bonus kitty </li></ul></ul><ul><ul><li>Recruitment agency fee </li></ul></ul><ul><ul><li>Administrative recruitment ops cost </li></ul></ul><ul><ul><li>Re-imbursements </li></ul></ul><ul><ul><li>Branding costs (HR/recruitment branding) </li></ul></ul><ul><li>Are these above costs relevant today and justified from a RoI point of view?!? </li></ul>
  4. 4. Recruitment 2.0 budgeting..! <ul><li>Most of these cost heads have remained, and are continued just because they are historical </li></ul><ul><li>And most of these are continued with no analysis of what they achieve after the expense is incurred! </li></ul><ul><ul><ul><li>This is the precise reason why budgeting also ought to be in sync with version 2.0 (recruitment budgeting 2.0?) </li></ul></ul></ul>
  5. 5. Recruitment 2.0 budgeting..! (What shall it comprise?) <ul><li>Ideally, the new budget overheads should be in sync with the trends in recruitment – now. </li></ul><ul><li>They MUST incorporate the new methods that the organization carries out the task of fulfilling talent. </li></ul>
  6. 6. The new budget…! <ul><ul><li>Some heads can be </li></ul></ul><ul><ul><li>Incentives to internal HR/recruitment team (exponential vis a vis contribution) </li></ul></ul><ul><ul><li>Incentives to line for fulfilling positions </li></ul></ul><ul><ul><li>Social networking & Blogging – all related long term brand building costs </li></ul></ul><ul><ul><li>Structured mapping costs (of industry talent) </li></ul></ul><ul><ul><li>Adverts in targeted industry publications </li></ul></ul><ul><ul><li>Academia tie-up costs </li></ul></ul>
  7. 7. Rules of the new budget <ul><li>Eliminate every single cost that is not justified or relevant for recruitment today. </li></ul><ul><li>Eliminate all vendor costs – increase the incentives/benefits for internal fulfillment </li></ul><ul><li>Reward internal brand ambassadors for their contribution to talent acquistion </li></ul>
  8. 8. See costs as investments, not expenditure… <ul><li>In the era of recruitment 2.0, you cannot measure RoI in year one. </li></ul><ul><li>For the 1 st few years, look at most costs as investments, not expense for the organisation. </li></ul><ul><li>Create finance and accounts systems and processes for the new need… </li></ul>
  9. 9. Think… <ul><li>It’s just a thought – and a call for a discussion to evaluate the current conventions in recruitment budgeting </li></ul><ul><li>This can be used as a hint – and organization specific evaluation be done on the what and how of the new recruitment budgets. </li></ul>
  10. 10. Thank you… <ul><li>Thanks for your time </li></ul><ul><li>Connect with me </li></ul><ul><ul><li>Mail – [email_address] </li></ul></ul><ul><ul><li>Handphone - 9840935357 </li></ul></ul>

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