Studies show a bad hire at a £42k salary could cost your business over £130,000!
A recent report from the Recruitment & Employment Confederation (REC) has found that UK businesses are failing to hire the right candidate for two out of five roles, despite the staggering financial consequences of getting it wrong.Crucially, the study found a poor hire at mid-manager level with a salary of £42,000 can cost a business more than £132,000 in wasted money on training, lost productivity, associated team disruption and increased staff turnover. So, how can you avoid crippling your business and your budgets to future-proof your recruitment practices?
With a data-driven recruitment strategy.
Data is crucial in the hiring process, and not just for blue-chip and corporate businesses. SMEs will benefit greatly from an informed recruitment drive, saving time & money and ultimately, greatly reduce the risks of ‘getting it wrong.’ Data is information. And in the right hands, this information can be a significant source of competitive differentiation and business advantage.
Recent research from LinkedIn found 75% of recruiters are not using data effectively
At Classic Consulting, we’re a data-driven recruitment firm, and we proudly merge state-of-the-art recruitment technology with traditional values of candidate and client care. We invest heavily in technology to analyse the candidate pool and identify the people with the proper skills and right mindset to help your organization achieve its goals – with excellent accuracy. Internally, we invest heavily in management-driven data to help hiring managers & HR teams analyse a host of metrics that increase productivity, minimise hiring times and conserve hiring budgets. And we do all this at no extra cost to our clients.So, if you’re looking to recruit for the future – and whether you understand the need for a data-driven strategy or are interesting in finding out more information on how modern recruiting can help you achieve your goals – contact our friendly and professional team today.
Thank you for reading
Classic Consulting is a multi-award winning recruitment consultancy making a genuine impact in the Sussex business community. You can call our professional recruiters on 01273 607129 for a confidential discussion on how we can match your teams with the right candidates, with the right skills, at the right time to support your business goals.