The Costs of Recruiting
How much does it cost your business to hire each employee? According to a new study small businesses pay almost three times as much for every recruit, and some industries are shelling out more money for hires than others.
The survey, conducted by Bersin and Associates, found that on average small businesses spend $3,665 recruiting each employee. This is in part because larger businesses, which spend an average of $1,949 per new worker, often have in-house recruiting professionals and do no have to outsource hiring.
What industries have the highest recruiting costs? According to the study manufacturers are paying the most, spending an average of $6,443 per employee. Meanwhile the healthcare industry has the lowest recruiting costs, on average it costs healthcare businesses $2.127 to recruit each employee.
Recruiting efficient, capable and loyal employees is a critical task in running a successful small business. Do you think it’s worth the expensive recruiting costs to get the best employees?