Low Cost Recruitment - Saving Piggy Banks UK-Wide

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Information about Low Cost Recruitment - Saving Piggy Banks UK-Wide
Business & Mgmt

Published on March 12, 2014

Author: SEOGemini

Source: slideshare.net


The cost of replacing an employee is on average £30,000 - we discuss how to save money in the recruitment process, online of course.

March 2014 www.recruitmentrevolution.com Recruitment Costs Breaking The Bank? *No piggy banks were harmed in the making of this slide

March 2014 www.recruitmentrevolution.com The Problem Figures released in a report conducted by economics consultancy Oxford Economics in 2014 indicated the true cost of replacing staff…and it’s a lot. There are two main costs; logistical costs including advertising and recruitment agency fees and salary costs to new employees who can take up to 28 weeks to reach full productivity. Each employee costs between twenty-five and thirty-thousand pounds to replace and it is costing UK employers a shocking estimated four billion pounds annually to recruit new staff. Source:https://www.recruitmentrevolution.com/news/2014/ 03/cost-of-replacing-staff-jobs-recruitment

March 2014 www.recruitmentrevolution.com BUT it doesn’t have this way - things are changing… In 2014 Recruitment Buzz reported that “Technology has taken away the need to be based in an office to complete work and anyone with a low level of investment can set themselves up as a freelancer”. This way of thinking has been sparked by the huge growth of work platforms such as Freelancer.Com, Elance and Odesk. In fact, in November 2013, Freelancer.com launched an IPO on the Australian stock exchange, rising by 420% in value. Source: https://www.recruitmentrevolution.com/news/2014/02/onlin e-freelancing-recruitment-data The Trends

March 2014 www.recruitmentrevolution.com The Headlines The Guardian reported in March 2014 on another cost saving agency making headlines - cue new kid on the block Time etc. “Time etc saves businesses the cost and hassle of hiring full-time staff for short-term projects by allowing them to pick and choose a PA, blog writer and marketing executive off the shelf”. Business owners outsource tasks, and Time etc complete them - all online we might add. Source: http://www.theguardian.com/small-business- network/2014/mar/06/work-smarter-virtual-workforce- online-meetings

March 2014 www.recruitmentrevolution.com But What If You Want To Hire People? Not Outsource Projects?

March 2014 www.recruitmentrevolution.com The Facts Undercover Recruiter showed that traditional recruitment methods such as newspaper advertisements are now barely used by companies used to fill job vacancies; it seems that instead, companies are turning to outsourcing the hiring process. In fact, the summary says that more than 70% of organisations now engage external agencies to fulfil their recruitment needs. So businesses are going to agencies to recruit staff, but with costs spiralling, how can they save money? Source: http://www.recruitmentrevolution.com/news/2013/11/using- online-recruitment-agencies-to-reduce-costs

March 2014 www.recruitmentrevolution.com Saving Piggy Banks UK-Wide In 2005 we created a new kind of recruitment service: A cost-effective online recruitment agency boasting the best bits you get on the high street - minus the sales pitch and silly fees. For the first time companies had a new, smarter way to recruit that didn’t involve wasting budget and time on risky “pay and pray” job adverts or suffering 20% high street agency fees. Companies now had the opportunity to pay a low fixed fee upon hire. In summary that’s: • No upfront fee • No high agency fees • No duplicated DIY resourcing costs if you fail to fill your vacancy AKA we’re awesome…

March 2014 www.recruitmentrevolution.com Connect With Us: Twitter: @RecRev G+: plus.google.com/+Recruitmentrevolution FB: facebook.com/recruitmentrevolution L: linkedin.com/company/recruitmentrevolution-com Don’t Be Shellfish

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