A preview of JobAdder's guide on how to reduce cost and time to hire, focusing on the one mistake agency and in-house recruiters are making that is adding inefficiency to the hiring process

1. How to reduce your
cost and time to hire

2. How much time and money is your business
spending on finding new hires? And what
savings could you see by changing how you
approach candidate sourcing and hiring?
In this eBook, we’ll analyse the current cost and
time burden of hiring, the rise of proactive
sourcing and how this impacts days to place.
We’ll also explore how recruiters and talent
acquisition professionals can leverage talent
pooling and proactive recruitment to reduce
their cost and time to hire and other big benefits
they could see from this approach.
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Introduction
2
How to reduce your cost and time to hire

3. 3
How much is it costing
you to hire?
According to G2, the world’s largest and most
trusted tech marketplace, each vacancy costs the
average company US$500 a day.
When calculating how much it’s costing you to hire a
new person, you need to look beyond the salary and
statutory costs.
The 2022 salary guide from Sydney-based
recruitment agency EST10 states: “Take into account
recruitment costs, on average AU$23,800, training at
approximately 1.5% of salary, equipment, office space
and onboarding, and you are close to the actual cost
to hire. Build retention into your recruitment strategy,
and your costs are reduced significantly.”
A survey from the Australian HR Institute, found that
the cost to hire an employee more than doubled in
2021, rising from AU$10,500 in 2020 to AU$23,860
per worker.
The Society for Human Resource Management
(SHRM) has estimated that the average cost of
employee onboarding is around US$5500 for each
new hire.
SHRM also estimated that, for mid-level staff, it
costs around 20% of a departing employee’s wage
to replace them. For executives, that number can
reach 213% of the average salary.
How to reduce your cost and time to hire

4. 4
How much time are you
spending on hiring?
The Australian HR Institute survey also found that:
● One in three respondents said recruitment took
up too much of HR’s time
● HR teams can spend seven hours per week
getting new employees up to speed during the
onboarding period
● Two in three respondents said general admin
took up too much of HR’s time
For JobAdder users, time to hire is dependent on
whether they fill roles through their JobAdder
database or talent pool versus filling through an
external source like a job ad, highlighting the
importance of building and nurturing talent pools.
JobAdder user type Days to place
using the
JobAdder
database
Days to place
using external
sources
Australian agency
users filling perm
positions
27.20 days 42.40 days
New Zealand agency
users filling perm
positions
32.0 days 46.50 days
UK agency users
filling perm positions
33.6 days 43.7 days
US agency users
filling perm positions
34.9 days 47.7 days
How to reduce your cost and time to hire

5. “If ever recruiters needed evidence that
‘reactive recruiting’ was becoming
increasingly ineffective, this data provides it.
Building up a strong network of screened
candidates and implementing proactive
sourcing and engagement tactics is essential.
This is even more crucial in skills-short
environments.”
How to reduce your cost and time to hire 5
Greg Savage
Recruitment thought leader

6. Want to access the full guide?
Download our free eBook to reduce
your cost and time to hire.