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Research and findings

We recently wrote a whitepaper that analyses the cost and performance of the three main methods of hiring:

1. Managers hiring themselves i.e. with no in-house talent acquisition or agency support
2. Managers hiring with in-house Talent Acquisition ("TA") support
3. Managers hiring with recruitment agency support

Method 1 findings

Our research showed that managers hiring on their own was the cheapest method of hiring, costing approximately €3,600 per hire. However, it takes 28 hours for each manager to fill each vacancy which results in significant opportunity costs for an organisation.

This method also resulted in a 20% probability of making a bad hire which costs an organisation the equivalent of 30% of a new hire's first-year salary, in addition to adding two weeks onto the time-to-hire.

Method 2 findings

Our research also showed that managers hiring with in-house TA employee support was the most expensive method of hiring. It costs approximately €13,200 per hire after you consider the salary of just one in-house TA employee. Obviously, with a bigger TA team, this would increase the costs per hire. 

However, this method reduced the management hours involved with hiring down from 28 hours per hire to 13 hours. It also reduced the probability of a bad hire to 10% of new hires and reduced the time-to-hire by 2 weeks, therefore reducing vacancy opportunity costs.

Method 3 findings

After taking Agency fees at 17% into account, managers hiring with agency support cost approximately €8,500 per hire which was found to be 36% less than with in-house TA support. It also reduced the management hours involved with hiring down from 28 hours per hire to 11 hours which was found to be 2 hours faster than with TA support. Finally, it reduced the probability of a bad hire to just 2% which was found to be 8% more effective than in-house TA support and reduced the time-to-hire by 2 weeks. 

Download the whitepaper

So what's the catch...why drop our fees? 

We dug into our data and spoke to hundreds of our clients and found the following:

Managers love our hiring capabilities, and the results, but find it difficult to justify a fee-per-hire to finance teams every year.

Managers love our hiring capabilities, and speed, but also have in-house TA teams and 'don't want to step on any toes'.

Managers love our hiring capabilities, and our accuracy, but have been told to reduce hiring volume and hiring costs.

Sounds familiar?

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