On average, it takes 30-40 hours to hire a new employee. You spend five hours on resumes, 20 hours on interviews, and another 10 hours on background checks and trial tasks. Given your staff time is worth $40/hour, filling just one position costs you around $1500.
How to make this process faster and cheaper?
Start your recruitment by screening applicant’s skills with Hundred5. This way the non-qualified applicants are being weeded out right away, leaving you a smaller and stronger talent pool to focus on.
Here’s a breakdown of the savings from using Hundred5 for recruiting one person, if the staff wage is $40/hour.
|Read 100 resumes||5||$200|
|Phone 30 candidates||10||$400|
|Interview 5 candidates (2 managers)||10||$400|
|Test qualification with trial work||5||$200|
|Narrow candidates pool to 10 candidates||1||$40|
|Phone 5 candidates||1.5||$60|
|Interview 2 candidates (2 managers)||4||$160|
|Test qualification with trial work||0||$0|
|Total saved: $940|
Stop wasting time on non-qualified applicants. Speed up your recruitment and spend less money on hiring costs.Try Hundred5 for free