Recruiting Costs – Trillium Staffing https://pubblog.in.trilliumstaffing.com Your Partner at Work Tue, 16 Jul 2024 19:47:35 +0000 en-US hourly 1 https://wordpress.org/?v=5.0.22 Average Time To Fill Hits Peak Since 2001! /blog/average-time-to-fill-hits-peak-since-2001/ Fri, 17 Apr 2015 13:25:35 +0000 /blog/?p=2555 Continue reading ]]> So it’s not your imagination, the time to fill your job vacancies has grown substantially. The Dice-DFH Vacancy Duration Measure, recently reported the average time to fill a vacancy had jumped to almost 27 working days in February 2015.

 

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Today’s employment market is a candidate driven market allowing candidates more flexibility and potential job offers than they’ve had in the past 10 years. With the rebound from the 2009 recession, the market has changed from being saturated with talent who was under or unemployed, to a discernible talent shortage in most industries. Employers are struggling to attract and maintain talent in roles ranging from General Labor to Professionals. Undoubtedly, in addition to the strain on your operations the longer a vacancy exists the more costly it becomes both financially and towards workplace productivity.

How can you decrease your time to fill? Here are a few ways to increase your quality of candidate while decreasing your time to fill:

  • Utilize your networks. The more people that are aware that your opening exists, the more likely you are to drive applicant traffic. Social networks, industry organizations, and your own staff can all work to help boost exposure to your position.
  • Build a referral program. If you don’t already have a competitive referral program you’re behind the times. Referrals often produce a higher level of candidate and a longer length of employment than a traditional hire.
  • Get in touch with passive candidates. Passive candidates are far less likely to be receiving multiple offers, have jumpy work history, or be lacking in skill sets. While it takes a little more digging to locate a passive candidate, the job offer process often times moves at a faster pace.
  • Partner with a staffing firm. Most staffing firms do not require an exclusive agreement or any financial obligation unless you choose to hire a candidate that they present. Often times they have access to a number of candidates in confidential job searches who are not posting resumes online or applying to job postings. In addition, they are experts at locating those hard to find passive candidates.
  • Be open to negotiations. Could paying a nominal amount more seal the deal before your candidate accepts an offer with your competitor? Absolutely. Be open to negotiating remote employment, pay rates, and even relocation. While initially some of these financial decisions may seem unsettling, the costs of a long term job vacancy will quickly outweigh an additional $5,000 relocation package for the right candidate.
  • Be proactive. Don’t wait for a vacancy to arise before recruiting to fill it. You should constantly be working to attract talent for your key positions. This will allow you to upgrade talent in areas that you need to and give you a pool of candidates to contact when an opening arises unexpectedly.

Want to learn more about how you can gain access to Trillium’s national network of top level talent? Contact us today! If you are a stand out in your profession and seeking contingent or long term career opportunities, visit our job seekers section for more information!

Trillium, a national leader in staffing and recruitment is a valued staffing partner to over 5,000 companies nationwide. Trillium is privately owned by Oskar René Poch.

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The Growing Cost of Hiring /blog/the-growing-cost-of-hiring/ Mon, 02 Mar 2015 15:45:31 +0000 /blog/?p=2506 Continue reading ]]> Are you still juggling the battle of hiring on your own versus seeking outsourced support? Whether the struggle is based on budgetary confinements, management expectations, or a desire to control the process; there is no better time than now to begin outsourcing your hiring process!

The cost of hiring internally continues to climb annually. Take a peek at the infographic below from The Huffington Post. It is amazing how quickly the cost skyrockets from a few hundred dollars for a job posting to an outside job board to upwards of $18,000! All of these costs can be invested with no guarantee that the employee works out!

The True Cost of Hiring

 

Most staffing and recruiting firms offer a guarantee on their placements and screenings. This protection in addition to the savings of time, resources, and expenditures can quickly justify the investment in outsourcing your hiring process. Established staffing firms only charge a fee if a placement is made, allowing you to view qualified talent before investing anything financially.

Want to learn more about how you can gain access to Trillium’s national network of top level talent? Contact us today! If you are a stand out in your profession and seeking contingent or long term career opportunities, visit our job seekers section for more information!

Trillium, a national leader in staffing and recruitment is a valued staffing partner to over 5,000 companies nationwide. Trillium is privately owned by Oskar René Poch.

 

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Advertising Costs Per Hire- Where Do You Stand? /blog/advertising-costs-per-hire-where-do-you-stand/ Wed, 05 Mar 2014 13:05:03 +0000 /blog/?p=1836 Continue reading ]]> While many companies track their average cost per hire, many lump all of their recruiting expenses together. Have you taken the time to see where your recruitment expenses come from? A recent study by Software Advice, highlights the average costs that simply advertising for an open position amounts to. You might be surprised to learn where you fall in comparison to other hiring managers.

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With job boards reported as being the primary advertising channel for 85% of companies, there’s no denying the impact the online advertising market has had on recruiting strategies for employers. If you are investing in online job advertisements, be sure to get the most of your investment. Creating an online job posting that attracts talent, shoud involve a combination of creative marketing, SEO value, and sales.

Do you feel like you struggle more to attract talent than some of your competitors? You might. Companies with less than 50 employees often spend more money advertising per hire than larger companies. Hiring strategies for small business often require more of a proactive rather than reactive approach. Whether your organization is small or large, the power of internal referrals is undeniable. In a 2011 survey by Jobvite, 70% of employers reported feeling that referred candidates were a better fit for company culture and company values. If your organization does not have a referral program established, now is the time to start!

While the battle for skilled talent is always present, 64% of employers reported advertising entry level positions. A combination of high volume, lower wages, and inexperience often lead employers to experience high turnover for these lower end positions. At a price of $173 per hire in advertising expenses alone, be sure that you have incorporated ways to reduce employee turnover and implemented retention programs even for your less skilled positions.

Want to learn more about how you can gain access to Trillium’s national network of top level talent? Contact us today! If you are a stand out in your profession and seeking contingent or long term career opportunities, visit our job seekers section for more information!

Trillium, a national leader in staffing and recruitment is a valued staffing partner to over 5,000 companies nationwide. Trillium is privately owned by Oskar René Poch.

 

 

 

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