Have You Ever Asked Yourself: “What Is The True Cost of My Talent Acquisition?”
The first time that we introduced the Bad Hire Calculator™ (BHR) to a client – their reaction was unexpected.
They didn’t say a word. For about a minute.
We knew that it was a potentially game-changing tool, but we didn’t quite realise just what an impact it would make. From that moment, our relationship changed.
We were showcasing the true cost of YOUR recruitment process and making a bad hire.
The UK Recruitment and Employment Confederation (REC) compiled a fascinating study in October 2017. It was called “Perfect Match (Making a Right Hire and the Costs of Getting It Wrong),” and it highlighted a few home truths that Recruiters, Employers and the in-house recruitment community have been unable to accurately quantify.
Shortly afterwards, we started using this Breakout Tool that was based on the findings of the “Perfect Match” study. With the help of a few clever algorithms and a dose of common sense, the tool brings information to light that has long been in the shadows.
Up to now, there has been no remotely scientific method of calculating the cost of bad (or good) recruitment. The BHC provides a thunderous wake-up call.
Our mission is simple. We want to get to know our clients – the more that they let us into their world, the better job we can do for them. Previously, we found ourselves talking about the same old things in our client meetings, but when we took those few minutes to fill in the BHC, the subsequent discussions were at a whole new level.
“Do our current recruitment practices really cost us this much?”
“Our board really has to see this.”
“How can you help us improve the situation?”
I would not like to suggest that companies are naïve in thinking that their recruitment process is perfect, but the volume of work often means that they have little time for introspection. The cynical amongst us might suggest that it is in their interests to sweep their poor retention metrics under a carpet, but figures like this cannot remain hidden for long.
This breakout tool changed the game, and more importantly for us and our clients, it initiated conversations about how we might assist them to considerably reduce their overall cost to hire.
We use it on a daily basis in our client discussions.
It takes conversations to the next level.
Try our calculator for free: http://badhire.net/larsen