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!
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?