Charles Castaldo III’s Post

I got a good question from a recruitment leader last week – how to calculate "cost per hire"? Calculating the cost of your recruiting program is about understanding a few relative cost components to the formula: 1) Let's say your headcount plan is 50 FTE hires and the total annualized salary is budgeted at $5M Now let's calculate your recruitment program costs: 2a) indirect costs: this is the spend budgeted for recruitment advertisement and agency fees. Let's pretend that you've spent $100K between job boards, employee referral fees, and agencies 2b) direct (labor) costs: this is the spend from your recruitment team. Let's pretend you got 4 FTE recruiters and total salary spend is $550K Between indirect and direct costs, your total recruitment program costs are $650K Now let's divide your recruiting program costs ($650K) by the total annualized salary ($5M) of your headcount plan $650K / $5M = .013 So . . .your relative cost per hire is 13% How do you calculate cost per hire as a recruitment leader? 🤔 #recruitment #talentacquisition #hr #recruiting

We made a list of the pros and cons of different types of staffing agencies. If you're shopping, you might want to read it. #staffing #themoreyouknow

This can be a difficult and time-consuming task, especially if a company does not have a human resources department. This is where staffing agencies can be beneficial. https://lnkd.in/drr_6qf8 #recruitingsoftware

This can be a difficult and time-consuming task, especially if a company does not have a human resources department. This is where staffing agencies can be beneficial. https://lnkd.in/drr_6qf8 #recruitingsoftware

It can be confusing for sure. Clarification is helpful.

This can be a difficult and time-consuming task, especially if a company does not have a human resources department. This is where staffing agencies can be beneficial. https://lnkd.in/drr_6qf8 #recruitingsoftware

This can be a difficult and time-consuming task, especially if a company does not have a human resources department. This is where staffing agencies can be beneficial. https://lnkd.in/drr_6qf8 #recruitingsoftware

This can be a difficult and time-consuming task, especially if a company does not have a human resources department. This is where staffing agencies can be beneficial. https://lnkd.in/drr_6qf8 #recruitingsoftware

🌶 You are not paying recruiters for the work they did for you. You are also paying them for the unsuccessful work they did for others 🌶 Paying recruiters 20-30% of the salaries of their candidates feels like a lot. And it is. One of the main reasons for these fees is one simple fact: Agencies fill less than 35% of their assignments on average. They have to constantly work multiple positions, divide their attention, and mitigate their risk. Therefore the fee you pay is not for each hour they worked on your assignment. But on all the others that did not work out. The solution? If you trust an agency, if they have done good work for you before... ➡ pay them a retainer. This retainer lets a recruiter commit to your assignment properly. And you should make sure it goes hand in hand with a lower success fee for you. _______________________________________________________ 💥 My name is Morten. 🌶 I have a recruitment agency. 🔺 Reach out to hire game changers. Like this post? Ring the 🔔 on my Profile 🔝 Connect with me

This can be a difficult and time-consuming task, especially if a company does not have a human resources department. This is where staffing agencies can be beneficial. https://lnkd.in/drr_6qf8 #recruitingsoftware