Hiring The True Cost of - Get the job you really want - Zippia
[Pages:1]$
The True Cost of
$ Hiring
Your mission, should you choose to accept it:
You, the hiring manager, must find the ideal accounting manager in the shortest time possible. Don't know where to start? Don't worry ? this will help. Depending on how much
time & money you can afford, you have two options. Choose wisely - the stakes are high.
This is you
What's Your Time Worth?
The average manager in the US makes
$90,000/year
Hourly wage: $47
? FACTS ?
Your Competing Priorities
You must juggle regular work & hiring.
You must fill the vacant job position ASAP.
You have a limited hiring budget.
Average # of days to fill a position:
95 days
Accounting Manager average salary:
$75,000/year
Hiring by Yourself
Using a Recruitment Agency
1 1 WRITING THE JOB DESCRIPTION & POSTING ADS FOR 3 MONTHS
FIND & HIRE A RECRUITER YOU DON'T HATE
Write Ad Copy $47 1h
Post a Job Ad $117.50 2.5h
LinkedIn Ad $1,500
CareerBuilder Ad $1,257
Monster Ad $675
Craigslist Ad $225
Facebook Ad $95
Overall Time & Cost $3,991.50
3.5 h
$
2 h
$ $94
2 RECRUITER DOES THE WORK!
Recruitment agencies usually charge companies a hiring fee of approximately 15%-30%.
15-30%
In this case, you need to hire an accounting manager with an annual salary of $75,000.
You'd expect to pay ~20% of that salary.
$75,000 -20%
HIRING FUNNEL
300 Respond
200 Seen by Hiring Manager
1 Job Offer 4 Final Interview 8 Interview
2 REVIEWING RESUMES
Job titles
Previous Companies
Overall Cost $18,750
$
x2
3 PRE-SCREENING & CONDUCTING INTERVIEWS
7.4 h
$ $348
Education
Start/end dates
Overall Time & Cost
3.6 h
$ $169.20
3 PRE-SCREENING & CONDUCTING INTERVIEWS
Overall Time & Cost
12.15 h
$ $571
4 HIRING WINE & DINE CANDIDATES
Overall Time & Cost
4 h
$ $188
4 HIRING WINE & DINE CANDIDATES
Overall Time & Cost
4 h
$ $188
Hiring by Yourself
23.3 h
TIME
Using a Recruitment Agency
13.4 h
MONEY
$4,920
$19,380
THE REAL QUESTION
$
Is there a win-win situation when it comes to both costs and time spent on hiring?
REFERENCES
Salary of manager er-salary-SRCH_KO8,15_IP5.htm
25 Feb 2014 community-manager-digital-marketing-manager-so cial-media-manager-web-developer-and-digital-co mmunication-specialist-are-the-five-profiles-mostoften-sought-after-by-companies/noticia
2 May 2014 (software engineers are in demand) -applicants-article-1.1776972
17 June 2014 (top 6 skills that will be most sought after) -06-17/news/50651389_1_business-intelligence-en gineers-analytics
31 March 2014 (median household income of Americans in Feb 2014) -household-income-advances-in
Linkedin job posting costs 0419011339-56543389-how-much-does-marketin g-with-an-ad-agency-marketing-company-social-m edia-company-and-video-companies-really-cost
Facebook job posting costs
Craigslist cost
How long it takes for job positions to be filled nomy/despite-job-vacancies-employers-shy-away-fr om-hiring.html?pagewanted=all&_r=1&
Statistics Source
Reference infographic ue-cost-of-hiring-infographic_n_1568295.html
Traditional recruitment process
4 April 2014 The cost of hiring ost-of-hiring-in-2014-infographic-friday-distraction/
Cost of advertisement per month at-is-the-cost-per-month-to-post-a-job-listing-on-C areerBuilder-com-job-website
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