Reuben Sinclair's Recruitment Cost Calculator
Do you know how much time and money you spend on recruitment? If you’re a hiring manager weighing up whether or not you need to outsource or delegate your recruitment responsibilities or you’re just curious, then this is the tool for you!
Posted by Rohan Shah, Wednesday August 24 2016
Do you know how much time and money you spend on recruitment?
If you’re a hiring manager weighing up whether or not you need to outsource or delegate your recruitment responsibilities or you’re just curious, then this is the tool for you!
The recruitment calculator has been created off the back of ten years experience recruiting within sales, marketing, PR and digital. However, all recruitment processes will vary based on the size of the company, the size of the team, the experience of the hiring manager and so on. So feel free to change the items in the spreadsheet for activities and hours spent to suit your recruitment process.
1. Assessing whether it’s worth delegating to a team member
Once you know how much time and money you are spending, you can then compare this to the time and salary of junior members of staff who you might want to delegate to. Junior or less experienced members of your team may cost less but the time they take and mistakes they make along the way could rack up in hours and therefore money! Or you may have a team member who is much more experienced at certain aspects than you are. So be realistic about experience level and the time it is likely to take them to complete the different steps.
2. Assessing whether it’s worth delegating to a recruitment agency
Yes, we’re a recruitment agency but we’re also going to be unbiased in our advice here.
Recruitment agencies are a good option if you don’t have time, if you’re recruiting for a specialist role, if you’re struggling to fill a role that you’ve tried to fill yourself or if you have retention issues.
Things to consider in regards to working with a recruitment agency:
- Choose a good one that specialises in your area. Agencies that specialise in your area will already be in contact with candidates in your area.
- Weigh up the fees vs the cost and time you’ve already worked out from the recruitment calculator
- Work out the terms and conditions. The pros of using a recruitment agency is that you’re going to be given a rebate period of some kind (or they should offer this if they are good!). If you consider the time and money risk if you recruit yourself and then hire the wrong person and then have to do it all again…it’s a lot more than it would cost to outsource to a recruiter and get them to do the work again if it doesn’t work out!
Email us at firstname.lastname@example.org and we'll send you a an editable version of our .
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