A recent analysis of the country’s Fortune 500 companies showed a surprising fact – even these top companies have problems attracting talent. From failure to cultivate leads with personalized communication to diminishing the importance of sharing online content, older, more established companies are dropping the ball when it comes to new hires. This is an important lesson for brands of all sizes to keep in mind.
The Cost of Hiring
Many businesses underestimate the actual cost of hiring an employee. They calculate salary, but a lot more goes into bringing a new member on to your team. Your team members have to spend time discussing the open position, posting the job, reviewing applications, and hosting interviews. All these hours quickly add up.
In fact, training, lost productivity, and staff hours can easily run around $40,000 per employee or more, according to the Center for Economics and Business Research. The cost is even higher when employees stay for only a short amount of time before leaving the company. When you take these numbers into account, it’s easy to understand why it’s important to hire the right people quickly, the first time.
Benefits of Using a Recruiter
Using a recruiting agent can save you a large amount of money. First, you only pay for the services you need, when you need them. Many companies can eliminate or re-purpose their dedicated hiring staff, cutting back on salaries, benefits, office space, and other associated costs.
Recruiters also have intimate knowledge of the hiring and interview process. They have specially honed skills that can help you connect with the right kind of potential employees – ones who will truly fit the bill for your company and won’t end up flaking out in a few weeks.
If you think your company could benefit from the expertise and efficiency of a recruiting agency, call Jarvi Group today. We’d love to discuss your goals and help your business progress.