ONE BAD HIRING DECISION CAN BE COSTLY, so we partner with our clients’ internal hiring staff to help eliminate bad hiring decisions!
Our TalentPro approach offers internal HR and recruiters a subscription service to allow the use of the same assessments we use to be used internally by the client to make better selection and hiring decisions. We also provide coaching support to internal recruitment teams to maximize the understanding, interpretation, and effectiveness of the assessments…all at a very affordable FLAT MONTHLY FEE. Suitable for any budget!
The selection and hiring of new employees is crucial for any organization’s success. Hiring the right people with the right skills, experience, and attitude can positively impact the organization’s productivity, efficiency, and overall success. Here are some reasons why the selection and hiring process is essential:
1. Finding the right fit: Hiring the right employees can ensure that they fit into the organization’s culture and values, leading to better job satisfaction, engagement, and retention.
2. Improved performance: Hiring employees with the right skills and experience can lead to improved performance, increased productivity, and better results.
3. Cost savings: Hiring the wrong employees can be costly for the organization, resulting in decreased productivity, low morale, and high turnover rates.
4. Innovation and growth: Hiring employees with diverse backgrounds and experiences can bring fresh perspectives and innovative ideas to the organization, leading to growth and success.
5. Legal compliance: The selection and hiring process must comply with legal and ethical standards to avoid any legal implications.
In summary, the selection and hiring process is critical for any organization’s success. It is essential to invest time and resources in the process to ensure that the right people are hired, leading to better productivity, engagement, and success.
These are 2 very important HR metrics to measure the efficiency and effectiveness of your recruitment / Selection / Hiring processes. The definitions for each are below. For help in calculating YOUR Cost-to-Hire and Time-to-Hire, simply contact us at (800) 530-4189, ext. 101 and we will be happy to walk you through the calculations!
The cost per hire is the average amount you have spent on new hires in a given period. This can be calculated by adding up both external and internal labor for all of them, dividing that number against how many people were hired at any one time or sequentially throughout those periods (then multiplying it with 100).
Time-to-hire refers to the time it takes your HR team to hire the candidate you want, from the request to fill date for an needed role to the new hire’s employment start date.