Research has shown that a poor hire can cost a business anywhere between 3 to 5 times the individual's annual salary, more in specialist roles. It can also create retention and motivational issues for the company.
By streamlining processes in the past we have shown it is possible to reduce time to hire by up to 40% and reducing costs by up to 50%.
By ensuring that your recruitment processes are practical and right for you, you can reduce the cost and increase the return on your investment in several ways:
- improve the quality of your hires
- hire the correct skill sets
- reduce turnover
- attract the right candidates for you
- reduce the time to hire
- improve service to your hiring managers
- reduce the time managing the recruitment processes and candidates
- identify candidates for future positions
- assist in succession planning
Remember: your candidates may be either existing or potential customers, so a positive recruitment experience can have a much larger impact on your business!