Time Costs Money

Employer hiring managers spend a significant amount of time and resources recruiting, whether that is for a replacement hire or a new strategic position. 

At VidCircle we help our clients, who are often scaling a business or starting out, by removing that pain for them.  Saving them time and money, so they can get the best talent out there to join their team and their hiring managers can go back to delivering against their business objectives.

Time Loss Statistics

We regularly ask our clients how much time they spend recruiting, when they’re trying to justify their costs against time, and we present some fascinating facts. A recent survey by the Society for Human Resource Management (SHRM) revealed that the average amount of time that an average company spends in the recruiting process is approximately 41 days. This adds up to an average of 32 hours of lost time for each hire, or nearly one full work week. Put that into context in the media tech industry, and the average time to fill a role is even longer - 56 days. Can you afford that? In particular, when you might have multiple hires in one year?

Where on earth do those hours add up, it won’t surprise you, when you look at the steps involved, job postings, sourcing candidates, screening, tech tests, psychometric tests, interviewing, and reference and background checks. To name a few…

What are the benefits of using VidCircle?

Using an external recruiter can be an effective way to help.

External recruiters can be beneficial in a number of ways.

First, we typically have access to a larger pool of potential candidates than hiring managers. We’ve been around for over 25 years, so we’ve seen the market change, evolve and develop and the talent that went with it. Therefore, we provide access to quality candidates that otherwise would be difficult to find.

Secondly, we streamline the entire recruitment process, meaning we save our clients valuable time for all people involved in that process.

And lastly, because we’re typically employed on a retainer basis, using us reduces overall costs associated with the recruitment process and often single only hires.

Where’s the proof?

The benefits of using external recruiters can be seen in the statistics. A survey conducted by the Recruitment Process Outsourcing Association (RPOA) revealed that companies saved an average of two to four days in the recruitment process when using an external recruiter. Additionally, companies saved an average of eight to 10% of total recruitment costs, including time, when an external recruiter was used.

So…

We know how much time and resources the recruiting process can take up. Using an external recruiter, like us is one way to help save time and money in that process. We here at VidCircle offer our clients a unique way to hiring through our Upfront Thinking methodology which not only saves you time and money, but gets you the talent you want, need and talent that stays.

Sources

• Society for Human Resource Management, “The Cost of a Bad Hire,” SHRM, Accessed December 8, 2020, https://www.shrm.org/hr-topics/talent-acquisition/pages/the-cost-of-a-bad-hire.aspx

• Recruitment Process Outsourcing Association, “Cost Saving or Cost Management: Which is Right for Your Recruitment?” RPOA, Accessed December 8, 2200, https://www.rpoassociation.org/cost-saving-or-cost-management-which-is-right-for-your-recruitment/.