How’s Recruitment Looking for You These Days?

• Are you finding the talent you want when you need it?
• Are candidates accepting your offers?
• Do you have a streamlined recruitment process, or are you reinventing the wheel with each search?

Let’s dive into some key hiring considerations that can make or break your recruitment efforts.

1️⃣ The Cost of a Bad Hire

A bad hire is more than just a temporary setback. According to a study by the Department of Labor (DOL), the cost of a bad hire can amount to as much as 30% of the employee’s first-year earnings. This figure includes direct costs, such as recruitment and training, as well as indirect costs like diminished team morale, lost productivity, and potential damage to customer relationships. Investing in the right recruitment strategy upfront can save you from these costly mistakes.

2️⃣ Time to Fill Positions

Time is money, especially when it comes to recruitment. Research from Glassdoor indicates that the average time to fill a position is 23.8 days. However, companies with an effective recruiting strategy can significantly reduce this time, securing top talent quickly and keeping business operations running smoothly. A streamlined process not only attracts better candidates but also ensures you don’t miss out on the best ones.

3️⃣ Employee Retention

Once you’ve hired someone, the goal is to keep them. According to the Society for Human Resource Management (SHRM), organizations with a strong recruitment strategy have a 28% lower employee turnover rate. A well-matched hire is more likely to be engaged, satisfied, and aligned with your company’s culture and goals, leading to higher retention rates and a more stable workforce.

-Kerri Roberts