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Finding top talent can be expensive. Companies spend thousands of dollars per hire. And when you consider the fact that a limited recruiting budget is a leading challenge for HR professionals, it’s clear why reducing cost per hire is on so many recruiters’ minds.In this Willo article, we explain the key details behind cost per hire and how to reduce it by optimizing your hiring process.

We know nearly all (94%) of candidates want feedback after interviews. According to a Starred study, candidate feedback is the biggest driver of rejected candidates’ net promoter score (NPS).Simply put, providing feedback makes candidates more likely to recommend your company, even if they didn't get the job. 

Speed and efficiency are everything in recruitment, and both depend on smart shortlisting.Unfortunately, over three-quarters of applicants are typically unqualified for the roles they apply to—a common frustration for hiring managers. It’s not only a waste of time, but it burns everyone out and increases cost per hire.

Recruiters are facing a talent shortage, with 86% of hiring managers reporting difficulties finding qualified candidates. But while many point to skill gaps and changing workforce expectations, another issue is flying under the radar: the recruitment process itself.

In previous blogs in this series, we explained the key benefits of flexibility at work and the challenges organizations face.‍ Now, we’re sharing a preview of how companies actually empower flexibility at work. 

Recruitment strategies have had to adapt constantly with the twists and turns of 2024. From candidate ghosting and skills shortage to quiet quitting and unchecked AI usage, it’s far from what companies experienced in 2022 and 2023.

Your employer brand can make or break your chances of attracting top talent.For instance, 75% of job seekers won’t consider your company if they catch wind of a bad reputation. And, according to our State of Hiring 2024 report, employers are catching on—83.6% rate it as very to extremely important for attracting top talent.

Higher education institutions across the US are increasingly concerned about meeting enrollment goals. A recent survey of 239 institutions, for example, found that a large majority (71%) of respondents expressed moderate to extreme concern about achieving their enrollment targets.

Flexibility at work brings productivity, camaraderie, and a host of other benefits. ‍

Providing flexibility to employees could be even more beneficial than previously thought. ‍A couple major studies find that employees are more productive when they have flexibility. Specifically, they try harder, think more creatively, and typically stay with an organization longer.‍But the benefits go beyond that.