Cost of recruitment – what does it mean?

Often the true cost of recruitment on a business is hidden.  It’s a combination of several things.  One of the latest UK stats I found was a guesstimate of over £30K!

It costs over £30K to replace a staff member

The two main factors that support this research is:

  • The Cost of Lost Output while a replacement employee gets up to speed
  • The Logistical Cost of recruiting and absorbing a new worker

On top of the cost and inconvenience to a business of advertising, sifting, shortlisting, interviewing, feedback, employment documentation – contract of employment, right to work in the UK etc and the ‘new joiner’ processes – raising a new profile for IT, issue a laptop/phone etc is the cost of the recruitment agency.

 

Average percentages of fees to be paid to an agency are:

Salary                                                   %                                Fee due

£15K                                                        14%                                  £2,100

£20K                                                        18%                                 £3,600

Over £20K                                               20+%                             £4,200

 

Using this method, apart from the cost, you won’t know if you’ve made the right choice until they’ve been onboard a while and are trained in the job.

 

With Growing Talent, a unique fee way of finding and growing new talent, you will be confident of your new hire as you train them in situ before hiring.  What could be simpler?

 

 

 

Need talent in your business?………

Why not ‘grow our own’!

 

As the feature photo from Preparing for Shtf’s website illustrates, great veg are the result of careful nurturing over weeks/months.   The results are better than any ‘brought off the shelf’!

 

At Growing Talent we believe the same is true when looking for talent.

 

Businesses who partner Growing Talent recruit people they wouldn’t normally with solid sustainable results.  Retention and commitment increases. As does, team spirit, morale and productivity.

 

Growing Talent, the B2B forum that brings the unemployed, employers and JobCentre Plus together, is completely free to use.  Funded by business for business to take a leap of faith.  No cvs and no job description. Why pay for your talent when you can Grow Your Own and get great diversity at the same time?

 

Over 111 people have secured permanent jobs.  Some have never worked before.  Some are graduates and some have solid employment history at all levels.  The nurturing selected individuals receive in situ gives the opportunity for them to showcase their skills, potential and fit with the business without trying to ‘sell’ themselves in a traditional interview.

 

With many success stories, we begin the next round on 18 September with the first stage selection.

 

If you need to recruit – why not ‘grow your own’? It’s easy partnering Growing Talent.

 

Final thought:  A recruitment company charging 18% on a £20K salary will cost £3,600.  Growing Talent is free!