1. Return on Investment
Resource Datamine
As with all business process improvement projects, a good ROI case needs to be presented.
For most organizations, the ROI from the adoption of a good recruitment system is
overwhelming. It often provides quantifiable payback within 3 months.
When compiling the ROI, a common problem is the lack of hard information on the current
hiring performance and costs, which of course is partially due to the fact that there is no
system in place. For many CEOs/CFOs having the ability to measure performance is a key part
of the justification for the adoption of a solution.
The majority of ROI cases contain two elements:
Quantifiable Benefits Unquantifiable Opportunity Costs
Usually the quantifiable benefits alone are enough to prove the value of the project. The others
are a bonus. Each case only differs depending on how companies recruited their staff prior to
the modern system, and the size of the organization
Quantifiable Benefits
Newspaper Advertising
Newspapers are the most expensive form of candidate sourcing second to agencies, especially
major international publications. The cost effective options available with a recruitment
platform can reduce or even eliminate this cost.
Recruiter Efficiency
With a manual or semi-manual hiring process, corporate recruiters spend a significant
proportion of their time on administration. This results in recruiting additional staff to meet
hiring targets.
Eliminate Hiring Mistakes
The majority of hiring mistakes happen because stressed recruiters are always running short
of time. A lengthy hiring process means that by the time an offer goes out, the best candidate
has already found employment elsewhere. Calculating the full cost is difficult, so the minimum
cost can be used.
This may be enough to provide a good ROI, but of course the much of the real benefit is in
the opportunity cost
Unquantifiable Opportunity Costs
Top recruiters are far more likely to be attracted to a company that has a proper automated
hiring solution. There is a cost to losing good recruiters, and failing to attract good
replacements.
Talent Pool Of Qualified Candidates
Real Time MIS
Improved Corporate Image & Career Brand
Employee referral programs offer significant savings on advertising and agency fees and
provide better quality candidates who are likely to be retained for a longer period
Overall improvement in the quality of people hired and therefore additional business
productivity
Reduction in the time to fill vacancies and therefore additional business productivity
For any queries or complimentary recruitment process evaluation, please contact:
Sarah Jones
NetEdge Computing Solutions Pvt Ltd.
Suite1,46b Thirlmere Avenue
Tilehurst, Reading RG30 6XN, United Kingdom
email:sarah@netedgecomputing.com
Tele:(208) 819 3987
www.resourcedatamine.com