There is not a single way to make a good selection process and that the path that your company wants to take, is completely valid. In fact, the costs depend on this decision and are directly adjusted to the budget and objectives.
That said, when considering filling a position, it is important to keep in mind that designing these goals will make the path easier. On the basis of these objectives, the selection process will begin and the costs of the selection process will begin.
The cost of hiring staff is not the same as the cost of a recruitment process. Today we will focus on the process and not on hiring, for this, we will show you what can represent, economically speaking, outsource and the advantages of doing so.
When it comes to knowing how much a recruitment and selection process costs, remember that the selection process does not only involve the search for candidates. This process begins with the writing of the job description and ends with the hiring and onboarding of the chosen candidate.
For this reason companies like TalentFY help you in the entire selection process so that from a single platform you can manage all stages of the process, reducing the average hiring time that is between 4 and 16 weeks (which also represents costs, to 10 days.
Headhunters
Experts in attracting talent usually offer their knowledge and experience independently or freelance so that companies or candidates find their ideal match according to the needs of each. The process steps may vary according to each headhunter’s work methodology, so objectives and deadlines should be clearly stated.
The headhunter is responsible for doing a market study and offering quality options for both parties, in this lies the main difference from the following two options. The more depth, the more price can vary, similarly with customization during the selection process. Choose the one that suits you!
Recruitment agencies
It is common for recruiting companies to offer their accompanying services in a comprehensive way and ensure a fairly large reduction in time, which is very attractive for most companies. Generally, these agencies have extensive experience and therefore a quite diversified network of contacts, without as many limitations as a freelancer can possibly have.
Additionally, agencies may offer more consulting services that may have an additional cost.
Digital platforms
When you talk about recruitment platforms, you talk about modernization and disruption. Although not all companies implement them, the trend of using digital tools to optimize processes and reduce time is on the rise. A custom software that guarantees the use of artificial intelligence for the development of a recruitment process is something that almost completely minimizes the probability of error in a recruitment. The dream of all companies.
A clear example of a digital platform, where you can find your vacancies, your candidates and make the selection process from start to finish, is TalentFY. Here you can connect recruiters with candidates, do interviews or do filters in an organized way. The number of companies that have decided to use it and decide to repeat it whenever they have a vacancy to fill in the technology and digital marketing sector is 82%. The metrics don’t fail!
Let’s talk about prices!
Now that you know the 3 main methodologies to outsource your selection processes, we will proceed to know how much a recruitment outsourcing costs.
As we have already mentioned, costs can vary according to multiple variables, however, they have something in common and it is starting to establish a fixed base percentage for their services, which usually ranges between the 10% and 25% of the total annual salary of the vacancy to be filled. Although it seems a lot, it depends on the case, can only represent a month of salary of the candidate and can generate a lot stability for the company.
Remember that financing your future projects is never a bad idea!
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