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How do you get feedback on your recruiting budget?

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As a recruiter, you know how important it is to plan and manage your recruiting budget effectively. But how do you know if your budget is aligned with your hiring goals, market trends, and stakeholder expectations? Getting feedback on your recruiting budget can help you optimize your spending, improve your performance, and demonstrate your value. Here are some tips on how to get feedback on your recruiting budget.

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James Hudson

Senior Director - Talent Strategy | biotech | consumer goods | digital

1 Identify your sources of feedback

Identifying sources of feedback for your recruiting budget is the first step. Your hiring managers can provide insight on if your budget meets their needs, the quality and quantity of candidates, and any suggestions or concerns. Your finance team can let you know if your budget is in line with the company's financial goals, if you are staying within allocated funds, and if expenses are reported accurately and timely. Additionally, your peers can give you information on how your budget compares to other recruiters in your industry, sector, or region, if you are using best practices and tools, and if there is room for improvement or innovation. Lastly, your candidates can tell you if your budget supports a positive experience, if competitive compensation and benefits are offered, and if diverse and qualified talent pools are being reached out to.

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Angéline Parizel

HR-innovator die grenzen verlegt, talent spot en mensen in hun kracht zet door samen met hen op zoek te gaan naar hun talenten.
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We work closely with the business on budgets. For a large organisation, not everything can be paid from the recruitment budget. If the hiring manager wants to work with a particular partner, for example, we ask for this to come out of their budget. This keeps it the fairest for all hiring managers. Campaigns are closely monitored and we work very closely with the marketing department, scrutinising the figures weekly and making adjustments where necessary.

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2 Collect feedback regularly and systematically

The second step is to collect feedback from your sources regularly and systematically. You can employ various methods and channels, such as surveys, interviews, reports, and reviews, to gather feedback. For example, you can create and send online surveys using tools like Google Forms or SurveyMonkey to get quantitative and qualitative feedback on your budget. Additionally, you can conduct one-on-one or group interviews with your hiring managers, finance team, peers, and candidates using tools like Zoom, Skype, or Google Meet. You can also generate and share reports with your hiring managers, finance team, and peers using tools like Excel or Tableau to get feedback on your budget performance. Lastly, you can participate in regular reviews with your hiring managers, finance team, and peers using tools like Google Docs or Asana to get feedback on your budget planning.

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3 Analyze and act on feedback

The third step in optimizing your recruiting budget is to analyze and act on the feedback you receive. To do this, you can organize your feedback by source, category, theme, or priority with tools like Trello, Evernote, or Airtable. Then you can evaluate your feedback by comparing it to your budget goals, metrics, and benchmarks with tools like Google Analytics, HubSpot, or LinkedIn Talent Insights. You can learn from your feedback by identifying your strengths, weaknesses, opportunities, and threats with tools like SWOT analysis, SMART goals, or OKRs. Finally, you can implement your feedback by making changes or adjustments to your budget with tools like Google Calendar, Todoist, or Zapier. Getting feedback on your recruiting budget is essential for optimizing it and demonstrating your value. By following these steps, you can get the most out of the feedback you receive.

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Angéline Parizel

HR-innovator die grenzen verlegt, talent spot en mensen in hun kracht zet door samen met hen op zoek te gaan naar hun talenten.
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To see if our resources are spent, we sit down with all parties and evaluate once a year; The use of tools is monitored monthly, because here too, the human side (the team's knowledge) often needs to be adjusted.

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4 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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James Hudson

Senior Director - Talent Strategy | biotech | consumer goods | digital
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I always find it helpful to think about this top down, and bottom up. So at the most macro level how many hires do we expect to make, and what’s the total budget, and what exactly is that supposed to cover (software licenses? Search fees? RPO?) Then at the division level, what’s our average cost per hire, average hiring volume and average attrition. If attrition is running higher than other biz units who bears that cost? Is it recruiting or is it shared with the biz?

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How do you get feedback on your recruiting budget?

1

2

3

4

1 Identify your sources of feedback

2 Collect feedback regularly and systematically

3 Analyze and act on feedback

4 Here’s what else to consider

Recruiting

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How do you get feedback on your recruiting budget?

1

2

3

4

1 Identify your sources of feedback

2 Collect feedback regularly and systematically

3 Analyze and act on feedback

4 Here’s what else to consider

Recruiting

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