Talent Talk Webinar Uncover Hidden Cost Savings In Your Recruiting Process

Cytiva Software, Inc.

“Uncover Hidden Cost Savings in Your Recruiting Process”

Hosted By: David FreemanTalent Management Solutions ConsultantCytiva Software Inc.

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Three common money pits in the typical recruiting process

Key metrics to monitor and track ROI How recruitment automation can provide a

positive ROI in less than 1 year






Three common money pits in the typical recruiting process• Recruitment advertising/marketing

• Obstacles to entering the applicant pool

• Holding Technology Hostage






Common Leak: Recruitment Advertising/Marketing


Common Leak: Recruitment Advertising/Marketing

Make educated buying decisions based on facts Prepare a staffing plan and negotiate your ad rates based on your

annual projections

Avoid one-off ad buys! Consider using an agency to negotiate on your behalf

Get the most from the ads you do place Properly track source codes (Marketing #’s for print) Proper categories, multiple categories Strong titles that set you apart.

IT Manager

or

IT Managers, Our Dynamic, Energetic and Growing Firm is Looking for People as Passionate as we are.

Getting the Most Out of Your Recruiting Investment”

Leveraging Your Recruitment Advertising Budget

Review your online postings for placement in search results






Obstacles to entering the applicant pool• Career site difficult to navigate

• Jobs challenging to find and/or apply for

• Cumbersome online forms

• Lack of resume upload capabilities (additional document upload)

• Asking for sensitive information in the “courtship” phase

• Not providing tools to keep the applicant engaged






Holding Technology Hostage

The key here is don’t Share resources with Hiring Managers

• Eliminate bottlenecks

• Speeds “Time to Start”

• Fosters communication

• Results in better applicant experience

• Improves hiring manager satisfaction rating

• Improves quantity and quality of data Share Resources with Vendors

• Prevents unnecessary payments

• Frees up valuable time resources

• Manage your vendors vs them managing you






38% of organizations produce no recruiting related reports 77% of those measure cost-per-hire; however, the process

of calculating this metric varies greatly 66% measure time to fill. Again, the calculations vary

greatly 54% measure quality-of-hire. Most commonly, this is only

done through the performance management process. The Bottom Line…You have to track if you are going to get

the most out of your recruiting function! Take advantage of your talent management system, but don’t let any limitations be an excuse for not tracking

*SHRM Survey


Recruiter and Hiring Manager Effectiveness

Key Metrics to Monitor and Track ROI New Hire Retention

90 days, 6 months, 9 month, 12 months, 18 months

Quality of Hire – source, recruiter, HM How has the new hire performed against benchmarks at 90 days, 6

months, etc.

Time to Fill Requisition creation – start date



Key Metrics to Monitor and Track ROI Cost per Hire

Measured by Role/Responsibility Not inclusive of “outside the norm” expenses

Source Effectiveness Applicants produced Hires produced Cost per hire by source Quality of hire by source






How recruitment automation can provide a positive ROI in less than 1 year• Improvement in key metrics alone will result in

positive ROI

• Reduction in advertising costs

• Reduction of administrative tasks

• Potential tax incentives



New Hire Retention The longer a new hire remains with the company the better the

return on that hiring investment; however, quality of hire should go hand in hand with this metric for maximizing ROI.

Quality of Hire – source, recruiter, HM Obviously, a good hire enhances the company’s overall

performance and has a positive impact on ROI. A bad hire has the opposite effect.

Time to Fill Longer time to fill causes lost productivity. Possibly even more

importantly, great candidates will go quickly. Take too long and miss the opportunity.



Key Metrics to Monitor and Track ROI Cost per Hire

Technology reduces the administrative costs, maximizes ad costs

Source Effectiveness Effective sources improve recruitment process performance


Employee Count 3000

Turnover (75%) 2250

Est. # of eligible employees (20%) 450

Avg. credit per qualifying employee

$1,000

Potential tax advantage $450,000

3000 Employee Company75% Turnover


• As much as 20% of hourly employees are eligible for tax credits.

• Qualifying employees are eligible for up to $8,500 in credits through the Work Opportunity Tax Credit and Welfare to Work programs. The amount of the credit is determined by the number of hours worked and the gross wages earned during that time. Walton Management estimates that on average a $1,000 credit will be received for each qualifying new hire.

• In addition to WOTC and WtW your company may qualify for additional tax credits related to employment and training. Walton Management would be happy to join us on a conference call to tell you more about their company and to answer any questions you may have.

* Statistics Provided by Walton Management Services





Cytiva’s Free Webinar series

• Recruiting 2.0

• Communicating Your Employment Brand

• Career Center 101

• Rethinking Your Recruiting Metrics for a Down Economy

• Tips and Tricks for Effective E-Recruiting

• Talent Acquisition Systems: Building a Strong Business Case

Vist: www.sonicperform.com/company/events.htm

“Building an Effective Referral Program to Source Quality Hires”

Cytiva Software Inc. offers a wide variety of products and services to help you get the most out of your recruiting efforts.

Talent Acquisition System• Custom career sites• Employee referral management• Career agents• Ad posting and tracking • Manager self-service• Contact management/Outlook integration• EEO/OFCCP compliance• Vendor Management Module• Onboarding Module• Hourly Recruiting System

Consulting SonicPerform Performance Management System

To learn more contact: David FreemanTalent Management Solutions Consultant877-775-0888www.sonicrecruit.com