If you’ve just started on the journey to hire new employees, there are some truths you made need to face. Hiring can be extremely complicated and can take patience, time and money to find the right person to fill a position. What is the cost of hiring an employee?
Here are some of the most common hiring costs across industries – so you can get a good idea of how much hiring costs.
- External Hiring Team – Small business owners spend around 40% of their working hours on tasks that do not generate income, such as hiring. It’s best to get help from an outside source.
- Job Board Fees – Once you’ve come up with the perfect job ad, it’s time to put it out there for the candidates to see. However, placing a job ad does not come for free, and can cost up to $300/month just to advertise one job.
- Background Checks – One of these checks can cost as much as $80 per single applicant, depending on how detailed you want to go.
- On-boarding and Training – It can take 8 to 26 weeks for an employee to achieve full productivity. It turns out that an average company loses up to $1,500 per new hire.
- Salary Plus Extras – For the employee to receive $50,000, the employer has to pay from $62,500 to $70,000 per year. And this is just calculating in the basics such as taxes and benefits, without any extras.
Hire With Ease can solve one of the biggest problems in hiring – the screening. As you get multiple applications flooding in, you lose precious time at the very start. Instead of devoting your time to the best candidates for the job, you spend it on disqualifying.
If you feel that you could optimize your hiring process to save time and money, give Hire With Ease a try. We will help you find better quality candidates, spending less of your time and money.
If you want to hire the person who’s just right for your team,
get in touch with our hiring pros today!