Hiring is probably one of your biggest expenditures – and risk exposures. And it’s easy to waste a lot of money and time if you don’t do it right.
Partnering with a staffing agency can help drive down advertising and recruiting costs and slash the time you spend screening, interviewing and vetting candidates. By leveraging the expertise of a recruiting professional, you reduce your risk of making a bad hire. Trust your staffing partner to take care of hiring details while you focus on your business initiatives.
5 Ways to Cut Hiring Costs with a Staffing Partner
Enjoy the following five cost-saving advantages when partnering with a staffing firm:
- Hire Faster: According to the monthly Hiring Indicators report from Dice Holdings, Inc., it is currently taking an average of 24.9 work days to fill an open position ─ increasing to 58.1 working days for employers with 5,000 or more workers. Staffing firms work hard to maintain a talented candidate pool, so you don’t have to wait to get the extra help you need. In fact, you may even be able to find a temporary worker the same day!
- Reduce Overtime: When you’re short-staffed, current employees are forced to work extra hours, which adds up quickly. Overtime costs can break a payroll budget in no time. Hiring temporary staff to fill the gap can completely eliminate the need for overtime.
- Decrease Benefits Costs: When you hire a permanent employee, you’re not just responsible for paying their salary ─ you’re also accountable for pricey benefits costs. However, when you take on a temporary staff member, the staffing agency is the one responsible for paying benefits expenses.
- Reduce Training Expenses: It takes a great deal of time and money to train new employees. In fact, it may take weeks until they’re able to start working independently. However, this is not the case with temporary workers. Staffing agencies take care of all the training ahead of time, so employees are ready to get to work on their very first day.
- Eliminate Bad Hires: Many people are skilled interviewers with the ability to convince you they’re the perfect candidate, when in reality they are not. The U.S. Department of Labor estimates that bad hires can cost your company 30 percent of their first year hiring potential ─ a significant amount of money! Reduce this risk by using a staffing agency. If the candidate isn’t working out, simply tell your recruiter they’re a bad fit, and they’ll find you a replacement. No expense, no hassle.
Searching for a way to reduce hiring risk? Contact Talent Bridge. We would always rather pass on an assignment than fall short of your expectations. We’ll commit to what we can do ─ then deliver top quality human capital solutions at an exceptional value.