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

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

2. 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

3. 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

4. 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

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

6. 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

7. 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…

8. March 2014
www.recruitmentrevolution.com
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Don’t Be Shellfish