Re:locate magazine | Recruitment | £5k is average hidden cost of recruitment

Recruitment consultancy Angela Mortimer has revealed that the average hidden cost associated with recruiting a new employee is over £5,000. The findings come from the organisation’s own Cost of Recruitment Calculator, which was developed to allow employers to monitor the cost-per hire of new staff, with the aim of helping them meet their recruitment needs on time and within budget. The software takes both the hard (e.g. advertising rates and recruitment consultancy fees) and soft (e.g. management time spent sifting through CV’s or cost of existing staff shouldering extra responsibilities while awaiting arrival of new staff member) costs into consideration and quantifies the total cost of recruitment by inputting the relevant factors. Most employers currently do not measure the cost of recruitment, according to the Recruitment Confidence Index released this week by the Cranfield School of Management and Personnel Today. The index reveals that employers are throwing money at recruitment without measuring the return on their investment with less than half of the 500 organisations surveyed evaluating the success of their recruitment processes.

For more information on the Cost of Recruitment Calculator, see www.angelamortimer.com.

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