Transcript

Welcome to pops the show that shows you how to shift from human resources, paperwork to people, operations for the new world of work. How by answering one question at a time. I’m Catie Grigsby, Senior Product Marketing Manager at TriNet Zenefits here to help answer the question, how to find out if the cost of recruitment is worth, what you’re doing.

The main KPI that’s used to measure the success of recruitment is cost per hire, but there’s a lot that can contribute to that cost. Let’s unpack a few of what those are and indicators that can help, you know, if you’re on the right track, the first is the most obvious, which is the cost of job posting.

The average cost of a 30 day job posting can range from 200 to $500. And that’s just for one website. If you post to multiple job boards, it’s important to track which ones are more successful in delivering qualified candidates. This way you can narrow your search and ultimately stop wasting money on sites that don’t work.

Another tip to reduce spending on job post is to post the job internally while it may create another gap, it could lead to higher employee satisfaction. 

The second is personnel cost. It comes down to making sure recruiters are maximizing EF. Using an advanced applicant tracking system can go a long way in helping recruiters work more efficiently and effectively you no longer have someone looking through every resume that comes in and manually entering candidate data.

Not to mention it also makes the recruiting experience for the applicant a lot smoother. So they’re likely to stay more engaged during the process 

And finally employee turnover rates, just as the saying goes, it’s cheaper to keep a customer than get a new customer. It’s definitely cheaper to keep an employee than to replace them. 

if your employee turnover is the highest in the first 60 to 90 days, then it’s likely the recruitment process isn’t working to get the right can. Using a tool like benefits to track people. Analytics can be a great way to answer questions like these and make sure you’re achieving a return on your investment in recruiting.

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