The Cost of New Hires

1. Recruiting

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The high costs of recruiting include advertisement, which

can cost up to $500 if you want to post to all the major

job boards.

Applicant Tracking

ATS systems are usually charged per user and

recruiting done right requires more than one person

Busy Recruiters

When these individuals are busy they may miss a gem, potentially

costing thousands in opportunity cost.

1. Training Employees

An Investment

Training employees is often the most

expensive investment in the employee.

The Skills Gap

According to a study by Deloitte, large corporations are starting to

spend more and more on training as the skills gap widens.

1.Salary, Benefits, and Culture

Benefits!

Obvious benefits include health and life insurance, tuition

reimbursement, and disability but those snacks and coffee in the break room are costly as well.

Culture

Company culture is becoming increasingly important to hiring

managers and as hard as they might try, and as sure as they

might be that a candidate is a fit; one never knows.

Most employees won’t reach maximum proficiency for months. So, if you take into account all the cost incurred to find and onboard

employees and assume that maximum proficiency means they

are finally profitable for the company, they often aren’t a

profitable hire until six months after the hire date