Hiring is an expensive proposition. Necessary, sure…but expensive nonetheless. Anything you can do to lower the cost offers an advantage. You conserve resources for other projects and you put yourself into a better competitive position.
DHR’s Staffing Partners Program offers the perfect method to achieve this goal. By expanding your recruiting capabilities and streamlining your hiring process, you lower the costs associated with filling open positions. The strategy provides you with a wide network of talent and allows you to fill open positions quickly and efficiently.
Recruiting: An Expensive Proposition
The cash outlays necessary to fill an open position can be surprisingly high. Most surveys (including one conducted by Glassdoor) place the cost around the $4,000 mark. However, some statistics point to even heavier costs. For instance, a study conducted by the National Association of Colleges and Employers suggests that the average cost could reach as high as $7,645.
Whatever the precise figure for a particular position, the message is the same: recruiting costs add up. And that’s just the beginning. The amount of money spent is only a part of the overall expense. You also need to consider opportunity costs and the amount of time a position remains open.
Those figures can be shockingly burdensome as well. The stats on average time-to-fill for open positions vary significantly, but they all point to a process that unfolds over a period of weeks. The Glassdoor data put the number at 24 days. Meanwhile, statistics collected by the Society for Human Resource Management puts the figure much higher, at 42 days.
While the precise figure will depend on the situation, the general point remains the same. You’ll invest weeks in the process of filling an open position.
The time spent searching for the right candidate can become a secret drain on a company’s growth prospects. Every one of those days represents time when a firm is short-staffed, losing productive work. Projects are getting delayed. Production is less than it should be.
Lower Costs Through a Staffing Partners Program
DHR’s staffing partners program can help you on multiple fronts at once. It reduces all the drains on your resources, cutting both the cash costs and the hidden expenses of the recruiting process.
The SPP attacks each source of expense at once. Any hiring decision taps into the widest possible talent pool, meaning it gets filled quickly. This diverse recruiting network also ensures that the position gets filled with the right candidate the first time. It creates a fast and efficient process that lowers costs and speeds the way for more productive work.
Here’s how it works. To fill any open position, simply tap into the SPP network. This activates multiple staffing agencies, each with particular niches and specialties. The job will be filled with a candidate specifically chosen for the role, providing a better fit in a streamlined period of time.
In this way, the Staffing Partners Program offers other benefits as well. Besides lowering costs and saving time, the SPP supplies higher-quality candidates as well. This lowers onboarding and training costs, while creating the conditions for superior output into the foreseeable future.
Ready to take advantage of DHR’s SPP? Contact DHR today to learn more about the benefits of the Staffing Partners Program.