How we reduced recruiting costs 39% while increasing intake quality and reducing time to hire
Real Benefits Case Study
Responsiveness to candidates to 100%; 39% reduced cost (£8,650 -> £5,275 per hire); better team cultural fits and diversity hiring; qualitative benefits around the process; a 95% hire rate for short list candidates; hiring leaders efficiency and congruency.
Our client, a 40-person life sciences company was growing rapidly, hiring skilled technical experts in product development, production, and regulatory affairs. The company was having problems recruiting people of the right calibre, was losing some candidates along the way, and was frustrated by the effort involved. Hiring leaders were performing much of the interviewing and administrative work themselves. There was an additional lost opportunity cost as 70% of their time would normally be billed out in addition to the basic recruitment costs. The company had identified their internal solution was costing £8,650 per hire. We were hired to come in and redesign the recruiting process and deliver major changes.
Over a six-month period, we reorganised the recruiting process, hired the in-house recruiter, and provided the service directly. We reduced their time to hire by 70%. We were able to reduce costs by 39% while at the same time, providing a much broader and higher standard of service to the hiring leaders and candidates. The client was also able to recapture over £250,000 a year in opportunity cost. Their team now has over 200 members and continues to grow.