Cost of Hiring New Employees – The truth!

 In Blog, Employers Tips, Newsletters

How much does your hiring cost? Well, asking uncle Google will tell you that it’ll cost from $1,000 to $50,000 or anything between…

The truth is, that it depends on your circumstances…. Let me explain…

A recruitment process must be carefully planned and will take anywhere between 20 hrs to 3 months, depending on the complexity and seniority of the role you are recruiting for.

Here are some of the ‘must calculate’ costs

  • Advertising
  • Shortlisting
  • Interviewing
  • Reference checking
  • Dealing with keen, but unsuitable candidates
  • Onboarding
  • Training time
  • Time of trainers

And, don’t forget, YOUR Time, away from the business…

Hopefully, by investing in your new employee you may be able to reap the benefits. After all, that’s why you invested in the first place. However, it can be a while before you recover your costs and if you have done any of the above wrong, it may become a very expensive endeavour…

What can you do about it then?

Work out your own recruitment cost, by using  Recruitment Cost Calculator.

Author: Vlasta Eriksson

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