Infographic | Cut Hiring Costs with a Better Offboarding Process in HR
The average cost of hiring and onboarding a new employee is $4,000. Here’s how you can cut costs using corporate alumni software to build a better offboarding process in HR.
Not all organisations have the time to put a dollar amount on the cost of hiring a new employee. But when you add up the hours needed to source, screen, interview and hire, the costs stack up. Your company usually breaks even – or may even lose money – in the new employee’s first year on the job. So how can you rethink your hiring strategy?
Corporate Alumni Software
First, you can work on hiring even when there are no positions open. Staying in touch with alumni and building a network will pay off later when positions are open. If you end up hiring a boomerang employee, your onboarding time will drop too, cutting hiring costs by as much as half.
How to Get Started
Screening & Interviews
How long do you spend screening candidates, checking CVs and looking out for great candidates? This is a massive time-waster when it comes to productivity. By staying engaged with your corporate alumni through your offboarding process, you can actively recruit from your past top talent, whether that’s through boomerang hiring or getting great referrals.
One of our customers recently told us about reaping the benefit of their corporate alumni data. Using Talivest, 34% of their alumni have updated their details by themselves. Now the company has the latest information on their talent pool, ready for their recruiting team.
Download the infographic to see how much time you can save by hiring boomerangs from your corporate alumni network.