Workforce.com came up with a good table recently from a study by CLC showing some averages that should convince more people about the true cost and impact of talent movement.
In other words, it costs more than $3,000 in time for the recruiter and the manager per each new hire. For each 1,000 hires a company makes, the cost goes to $3M+ and top tier companies can save around $0.5 million on this alone.
That is the cost centric approach. But we have seen that there is way greater impact in your organization than simply taking a strictly cost centric approach.
In fact, the percentage of A-level hires going from 23% to 12% provides significantly more impact on your business than the $0.5 million savings. The opportunity cost of having a position open for 89 days versus 42 days is also very costly!
If you want to know more about the full financial impact of Talent Acquisition and Mobility, please refer to our research on it.
