Effectively Managing Your Recruitment Budget

Recruiting new members of staff is one of the most important investments any company makes. But by hiring a new member of staff there are associated costs. In fact, it has been estimated that each new candidate hired costs a company over £5,000-£10,000 when you factor in advertising costs, time of the hiring manager(s) and training to bring the new employee up to speed!

That’s a lot of money for any company.

And this goes up to over $15,000 for senior management hires.

Whatever the exact costs are, it’s clear to see – not only does recruitment take time, but it’s also expensive. All the more reason to get it right the first time and within a budget.

In light of all that, how can you ensure you’re making your recruitment budget work for you?

Think about the following seven-steps