Tips for hiring employees on a limited budget

In today’s competitive market, many businesses find themselves saying, “We just don’t have the budget for a recruitment agency.”

Here at Digital Waffle, we understand the challenge - tight budgets are a reality, especially for growing companies. But let’s reframe the conversation: a limited recruitment budget doesn’t have to lead to a talent drought. In fact, with the right approach, it can be your secret weapon.

The hidden costs of open positions

An unfilled role can silently drain your company’s resources. Here’s how:

Productivity plummets

Your team becomes a game of Tetris, desperately trying to fill the gaps left by the missing player. They're juggling extra tasks, putting their own work on hold, and feeling the pressure with every passing deadline. Morale takes a nosedive as exhaustion sets in, and before you know it, the quality of everyone's work starts to suffer.

Revenue takes a hit

Let's say the open position is for a sales role. Every day without that go-getter filling the pipeline and closing deals is lost income. If it’s a tech role, delayed product launches and bug fixes that drag on can quickly lead to unhappy clients. Suddenly, the small cost of an agency seems like a bargain compared to the revenue haemorrhaging from the open position.

Momentum grinds to a halt

Growth thrives on a well-oiled team, each member contributing their expertise. But with a missing piece, the whole machine starts to sputter. Projects stall, deadlines slip, and the overall momentum of your business takes a sharp turn south. This can have a ripple effect, impacting employee satisfaction and ultimately hindering your ability to reach your goals.

The cost of an open position goes far beyond the salary you're not paying. It's a hidden drain on your most valuable assets: your team and your business potential. Don't let a small recruitment budget become a big problem.

Top Tips for hiring on a limited budget

So, how do you tackle recruitment with a smaller budget? Here are some practical tips for hiring on a limited budget:

Leverage employee referrals

Encourage your existing employees to refer potential candidates. Offering small incentives for successful hires can motivate your team to tap into their networks, bringing in quality candidates at little cost.

Optimise job descriptions

Craft compelling job descriptions that clearly outline the role and the growth opportunities it offers. Avoid jargon and be specific about what makes your company a great place to work. This can help attract candidates who align with your culture and values.

Utilise social media

Use platforms like LinkedIn, Facebook, and Twitter to share job openings and company culture. Engaging content that showcases your team and workplace can attract candidates who might not actively be looking but are open to new opportunities.

Attend local networking events

Participate in industry events or job fairs to meet potential candidates face-to-face. Building relationships in your local community can lead to finding talent that fits your company without the need for extensive advertising.

Streamline your interview process

Ensure your hiring process is efficient. A lengthy interview process can turn candidates away. Keep communication clear and concise, and aim to make decisions quickly to secure top talent.

Utilise our Intuch solution

Intuch is all about maximising your recruitment impact without maxing out your wallet. We offer a flexible, pay-as-you-go approach, where you only pay when we find the perfect candidate. Here's how it works:

How does it work?

When we place a candidate, our fee is split over 12 monthly payments. If the candidate were to leave (for any reason)? You just stop paying, no questions asked or nasty T&Cs.

As you've paid for what you got, you're then happy for us to find a replacement and restart the Intuch process again.

With Intuch, there's no need to feel trapped in a recruitment cycle or hesitant to grow due to upfront costs.

It's a win-win: you get the talent you need, and we handle the risk.