Benefits of Utilizing
|
Detriments of Recruiting
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|---|---|
| Costs nothing to try the service and assess value - All fees are contingent upon hire |
Opportunity Costs - Time period it takes to fill the position |
| HR can focus on keeping employees happy rather than sourcing and recruiting | Time
spent on recruiting - Cost of mishire- wastes valuable management time |
| Management can focus on keeping employees happy and new business rather than sourcing and recruiting | Lost revenue due to management time focused on hiring, managing customer expectations, counseling employees |
| Proper hiring reduces turnover | Morale costs- employees feel demoralized when their company can’t staff with high |
| Improved recruiting creates more business as new employees bring new contacts and opportunities | Time wasted re-recruiting for positions that result from employee turnover |
| Cost of recruiting should be amortized over the life of the candidate to reveal true cost | Turnover created by impression that company is not focused on growth |
| Referrals obtained from existing employees generally adds at least 1 more employee over the tenure of the candidate | Employees that turnover recruit their ex-coworkers |
| Hiring the best creates a profits-Gain in profits-Gain in revenue per engineer hired |
Hiring marginal candidates creates a less profit or business loss |
| 100% staffing with top candidates propagates client expansion and new business opportunities | Lack of effective staffing impacts new marketing initiatives |
| Improved recruiting creates substantively more visibility for company through free public relations - This is very targeted, focused public relations as the candidates interviewed work directly within the client pool to whom you are marketing |
Turnover affects customer impression Inability to deliver superior service impacts reputation |