Cost is a huge factor when it comes to deciding whether to use a recruitment company or whether to recruit using in-house methodologies. Many people believe that in-house is free, and that recruitment companies are expensive, ergo it makes more sense to use human resources to hire your next great employee.
This could not be further from the truth!
The reality is that there are dozens of different costs throughout the hiring process, all of which can add up to thousands upon thousands of dollars. One example of these types of costs includes the money you spend advertising your job.
How Much Do Job Advertisements Cost?
Where you market your job has a big effect on the quality of the responses you receive. You’ll want to post the job on some of the popular sites simply because job seekers are more likely to utilise them, but you’ll also want to post information about the jobs on more specialized sites that will attract workers in the field.
The cost to put a job advertisement on one of the bigger job boards starts at around $400 each. Often you’ll choose two or three of these just to be safe, totaling close to $1000. Then you’ll want to advertise on specialised job boards for a few hundred extra dollars. At this point, you’re at $1500 to $2000 at a minimum.
But those aren’t the only costs either. You’ll also have to pay for the time it takes an employee to post on these boards, as well as the time it takes to find the best specialised sites to market on. These can take a few hours each time or more. You’ll also need them to be monitored, and if something comes up and you are unable to find a suitable applicant (since job boards are certainly no guarantee), you’ll then have to pay all of these same fees next month, and possibly the month after.
Even if we take a conservative estimate of $2,000 (much lower than the likely cost), this does not include the additional employee hours it takes to review all of the applicants and find the one that is the best fit for the open position. These costs add up quickly, and with each dollar you spend you’re hurting your ROI.
Finding Affordable Recruitment
If the cost of professional recruiting was $10,000 or even $5,000, it may make sense to spend that much money out of pocket. But you can find affordable recruitment in Australia for a single fee of $1,995 – less than the lowest possible cost of advertising your job on job board sites. It simply doesn’t make sense to hire in house, when companies like Recruit Shop can find you a great new employee for one low fixed rate.