Costs of Hiring – we can help!

July 11, 2013

Bad Employee

Most organizations are primarily concerned with bottom line and costs.  The Burke Group recognizes and appreciates this concern.  The following information is designed to assist clients in a cost analysis of hiring.  Although initially the cost of using a professional search firm appears to be high, the actual costs are often less expensive or equal to those incurred by most companies when they hire on their own.  A few important considerations are as follows:

TRUE COSTS:

Assess resumes:  No phone calls:

100 responses @5 minutes per resume

8 hours @ $_______________

Prepare short list of acceptable candidates:

½ hour @ $_______________

Telephone pre-screening:

8 calls at 15 minutes each

2 hours @ $_______________

Telephone time to arrange 6 interviews:

½ hour @ $_______________

Interviews:

6 @ 30 minutes each

3 hours @ $______________

Testing:

3 hours @ $______________

Reference Checking:

2 hours @ $_______________

Prepare interview questions:

½ hour @ $_______________

Set second interviews:

½ hour @ $_______________

Interview final candidates:

2 – 3 candidates at ½ hour each:

1 – 1.5 hours @ $___________

Miscellaneous time expenditure:

1 hour @ $________________

Telephone calls to all interviewed candidates:

6 calls at 15 minutes each:

1.5 hours @ $_____________

The decision to hire or not hire an individual is based on an expectation of the FUTURE performance.  If these expectations are not met:

a)      A decision must be made whether to keep that person on beyond the standard 90 day probation period.

b)      If you have hired on your own, you will once again incur all the expenses of recruiting.

c)      If you have hired through The Burke Group, we have an exceptional success rate.  However, should our candidate not work out for whatever reason, The Burke Group provides a 3 – 12 month replacement guarantee allowing you to replace the individual at no additional cost.

Just some Burke thoughts and financials for you today.