Businesses are the people they employ. Finding, hiring and keeping the right talent can make the difference between success and failure, but is becoming harder as skills and other resources get scarcer. In the quest to do more with less, many businesses believe they are recruiting cost effectively, but that may not be the case. What most are failing to factor in is the impact and value that good or bad talent acquisition has on the organisation.
We found that almost nine out of ten HR professionals have worked for a business that hired the wrong person for a job: bad hires are not isolated incidents but frequent occurrences. Employers clearly don’t fully understand the costs of a bad hire, they fail to measure its damaging impact and they don’t learn how to avoid it next time. This behaviour is putting the success of UK businesses at risk.
Kevin Green, Chair at the Good Recruitment Campaign
We work with senior leaders to fulfil critical roles every day and in our conversations with them, have developed a good understanding of the challenges they face when acquiring talent. Many of our clients come to us after several frustrating months working in-house to fulfil roles and failing. Worse still, some have managed to recruit but the candidate has quickly turned out to be a bad fit for the business and leaves within the first 6 months. In fact, some businesses estimate they are wasting as much as between £100,000 and £199,000 on bad hiring decisions at senior level.
By having a thorough understanding of all costs associated with attracting and retaining employees, businesses can start to see the real costs of recruitment, the effectiveness of their hiring strategy and ways they could improve efficiency and the quality of their hires.
DOWNLOAD THE WHITEPAPER to uncover
- The true costs associated with your recruitment
- Whether your current recruitment strategy is working
- The costs associated with different recruitment methods (including the hidden costs you won't have factored in!)
- Other considerations impacting the success of your recruitment strategy
- How to justify your existing or future recruitment strategy
- How to improve the effectiveness of recruitment in your business