Recruiting Costs: How Much Does It Cost Your Business?
It’s no secret that recruiting can be a time-consuming and costly endeavor – but just how much does it cost your business? The answer may surprise you. The cost of recruiting is often one of the biggest line items in a company’s budget. The Society for Human Resource Management (SHRM) reports that the average cost-per-hire in the US is $4,129. This number can vary depending on several factors, such as the size of the company, the industry, the location, and the type of position being filled. But one thing is certain – recruiting is expensive, and it’s only getting more so. With the war for top talent heating up, many companies are turning to recruitment outsourcing as a way to save time and money. Recruitment process outsourcing (RPO) is a type of business process outsourcing (BPO) where an external provider manages all or part of a company’s recruitment process. While the cost of recruiting may seem like a necessary evil, it’s important to keep in mind that a well-r