The strategy can be more cost-effective and provide better results
With Canadian small businesses looking to cut costs wherever they can, one area that many companies are finding they can cut back - without sacrificing results - is in hiring methods.
An increasing number of Canadian small businesses are shying away from job advertisements, paid online job boards and recruiting firms in favor of more cost-efficient methods, such as social media, reported the Globe and Mail.
One Toronto-based entrepreneur, Razor Suleman, has revamped his hiring strategy entirely by having his employees post open positions on their Facebook, Twitter and LinkedIn pages, and then hosting open houses for interested candidates.
Suleman said the strategy is not only cheaper, but more effective, as it capitalizes on the increasing popularity of the social media. "The world has changed - it will never go back," Suleman told the newspaper.
Through this strategy, Suleman bypasses a newspaper ad cost of $5,000, an online job board cost of $700 and a recruiting firm price tag of $260,000. He told the newspaper that he instead pays $1,800 for wine and cheese at two open houses.
With 300 million active users on Facebook alone, using social media to attract and research job candidates has become an increasingly effective and popular strategy, studies have shown.
