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A great tool to compare your recruitment costs

21 Jun 18:00 by Catherine Lanigan

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WHATS THE REAL COST OF RECRUITMENT TO YOU?

 

Sometimes it is worth managing the recruitment project internally, other times it is better to outsource.  When making that decision how do you calculate the cost of recruitment?

 

Is it the salaries you pay the staff to manage the process or what they are worth to you [which is far more than what you pay them]?

 

Do you take into account lost opportunity cost?

 

What about all the incidentals such as posting adverts, replying to candidates, the cost of phone calls, the time taken to field  the ‘why not me’ questions?

 

Are the fixed costs taken into account ie rent & electricity

 

Do you say thank you for candidates interest or just not do anything because it is too hard?

 

This is a link to a simple spreadsheet which will easily calculate the cost and your lost opportunity costs.  It covers a lot of the issues, not all we admit, but it will give you a ball park figure.

 

Any questions please call us on 08 9325 5500