Ensuring Value for Money and Maximising Your Recruitment ROI: Insights for Non-Profit Organisations

Whether your budget is large or small, one of the most important considerations for all non-profit organisations is how to get the most value out of every £1 spent. This is particularly important when your funds are coming from public money  Many non-profit organisations are experiencing a budget squeeze thanks to the cost-of-living crisis. This has impacted charitable donations from the public and lead to a reduction in government spending that amounts to a £1billion cut to public funding.  That’s why we’ve put together this quick guide to getting the most from your spending with effective strategies for maximising your return on investment (ROI) or recruitment ROI. 

What is ROI in Recruitment? 

Recruitment ROI refers to the measure of how effective and efficient your recruitment efforts are in relation to the resources (both time and money) you’ve invested in the process.  

Calculating your ROI involves assessing the value gained from the recruitment process against the costs incurred. Several factors can influence ROI for non-profit businesses including: 

• Budget constraints 
• Time-to-fill 
• High competition for talent 
• The need to align candidates with the organisation’s mission 
• Turnover rates 
• Compliance and legal requirements 
• Employer brand perception 

To calculate your hiring return on investment first look at the net benefits brought by your new hire (such as increased productivity or reduced turnover costs) and divide them by the total recruitment costs you’ve incurred.  

Strategies for Maximising Recruitment ROI 

With so many factors potentially impacting your recruitment ROI, getting the most from your spend can feel overwhelming. Here are some effective strategies for improving your ROI and getting value for money: 

1. Define Clear Job Requirements and Expectations 
   
   Clear expectations from the outset can improve your ROI by ensuring only qualified candidates apply, reducing your time-to-fill. Including this information can also improve candidate attraction and retention. You should: 
   
   Ensure all job descriptions align with the overarching goals of the organisation 
   
   Clearly outline job responsibilities and performance metrics 
   
   Include details of the workplace culture and working environment in job descriptions 
    
2. Use Cost-effective Recruitment Channels 
   
   If you rely on several different recruiting channels, it’s worth exploring which are currently the most cost-effective for your recruitment purposes as well as looking at some less traditional options. Tracking and analysing metrics such as the number of qualified candidates sourced, time-to-fill, and cost per hire for each channel can provide valuable insights into their performance and help you allocate resources accordingly. Some alternative low-cost recruitment channels worth exploring include: 
   
   Social media platforms like LinkedIn, Twitter, and Facebook to share job postings and engage with potential candidates 
   
   Employee referral programs that encourage current employees to refer suitable candidates 
   
   Participating in networking events, community groups and industry associations can help you connect with potential candidates 
   
   If you have a little more budget to invest, posting job openings on online job boards and niche websites that cater to specific industries or sectors can help you reach targeted audiences  
    
3. Streamline the Recruitment Process 
   
   By reducing unnecessary administrative tasks, minimising delays, and improving overall efficiency, you can save valuable time and resources while attracting and hiring top talent more quickly, boosting your recruitment ROI. Some suggestions to streamline recruitment processes include:
   
   Establishing standard procedures for sourcing, screening, interviewing, and selecting candidates  
   
   Using Applicant Tracking Systems (ATS) software to automate repetitive tasks, such as resume screening and candidate communication and providing valuable data insights  
   
   Improving open communication and collaboration between hiring managers, recruiters, and other stakeholders to make quicker decisions and reduce delays in the recruitment process 
    
4. Invest in Employer Branding and Candidate Experience 
   
   A strong employer brand makes your organisation more attractive to top talent and reduces recruitment costs over time. Additionally, providing a positive candidate experience improves candidate satisfaction and increases the likelihood of successful hires. Some ways to showcase your brand and improve candidate experience, include: 
   
   Sharing success stories to highlight real-life examples of the organisation's impact and the meaningful contributions of its employees 
   
   Convey your culture integrating your values and mission into job descriptions, website content, and other recruitment materials  
   
   Keep candidates informed and engaged throughout the recruitment process by providing regular updates and feedback. Personalise messages based on their individual preferences  
    
5. Evaluate and Optimise Recruitment Strategies 
   
   By analysing key metrics such as cost per hire, time-to-fill, quality of hire, and source of hire, you can identify areas of strength and weakness in your recruitment processes. This data-driven approach enables you to make informed decisions and allocate resources more effectively to continuously optimise your hiring to attract top talent, reduce recruitment costs and achieve maximum ROI.  
    
6. Connect with a Trusted Recruitment Partner 
   
   Working with a trusted recruitment partner like Boston Hale can be one of the most effective ways of improving recruitment ROI for non-profit organisations. A recruitment partner brings specialised expertise, industry knowledge, and access to a broader talent pool, allowing you to streamline you recruitment processes and identify top candidates more efficiently. Boston Hale can offer valuable insights, guidance, and support throughout the hiring process, so you can make informed decisions and achieve better hiring outcomes while keeping focussed on your core mission and objectives. 

Boston Hale specialises in helping non-profit organisations recruit for mid-senior level, interim and permanent roles across the Accountancy & Finance and Data & Technology and sectors.  

To find out more about how we can help you find the talent you need, or to discuss your vacancies, get in touch with us today.