To figure out how much it cost you in time, let’s assume your HR team is being paid $60 per hour. Also to calculate the cost as a percentage of the salary of the new hire, let’s assume that you will pay the new person $75,000 annually.
- Phase 1 – Sourcing The Job (3 hours – Hard Costs: $1,000 posting fees)
- Write Job ads
- Prepare budget and timetables
- Post job online
- Search resume banks, social media
- Phase 2 – Applicant Tracking and Screening (10.5 hours – Labor Costs: $630 at $60 per hour)
- Read incoming resumes and applic i ations
- Handle unsolicited calls
- Phase 3 – Gather Information / Sell The Job (30 hours – Labor Costs: $1,800 at $60 per hour)First call (Introduction – 20 min per call)
- Reference calls (Check the ones provided – 20 min per call)
- Second call (Setup interviews – 20 min per call)
- Phase 1-3 $3,430 (4.6% of $75,000 Salary you plan to pay)
- Phase 4 – Interviewing (30 hours – Labor Costs: $1,800 at $60 per hour + Senior Mgr + Travel)First Interview (50 candidates at 60 min per candidate)
- Full Reference Check (Top 20 candidates at 60 min per candidate)
- Second Interview (Top 20 candidates at 60 min per candidate)
- Full Background Checks (Top 5-8 Candidates)
- Phase 5 – Hiring, Training, On-BoardingFinal Interview of Top 3 Candidates
- Offer extended to candidates
- Communicate with candidates not getting the job
- Get 30-60-90 goals for new hire
- Onboarding training
How To Get Started
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