RAAS

The art of finding and employing talent has never been more awash with choice of methods, technologies and media. The average business is now empowered like never to speed up their hiring process, be more targeted in their search and more accurate with attraction techniques.

But what about the actual cost of hiring?
Did you ever felt traditional recuritment becoming expensive?

The cost of hiring via Traditional Recruitment

Hiring continues to be an expensive practice for most verticals.
Despite the growth of social recruitment and B2B engagement sites like Linkedin.corn and Google.There remains a heavy reliance on advertising to achieve results. For most businesses, advertising costs are only the tip of the hiring iceberg.

The bigger and more complex a company is, the higher the risk of cost spirals due to talent gaps, internal process delays, internal structuring, salary alignment and so on.

So where Is the evolution In bringing hiring costs down?

The future might be in more flexible outsourced models such as Recruitment As A Service ( RAAS) that take hidden costs out of the hiring process, reduce agency spend and reduce internal recruitment overheads.

As technology continues to provide more tools to find talent, the requirements of businesses move more towards service-based models. By working with flexible outsourcing models such as Recruitment As A Service ( RAAS), businesses can pre-cost their hiring process, advertising and early stage interviewing, leaving only final interview decisions with the HR and hiring managers.

This can reap long term benefits not only on the talent acquisition bottom line, but also in the productivity of all staff involved.

Company hiring costs for 100 people with a lightweight outsourced recruitment model
HireXtra.com - Recruitment As A Service (RAAS)

Resource/Activity
(For 100 Roles)

Cost of 4 Talent Acquisition
Cost of 1 Senior HR
Cost of Job Portals Eg. Monster or Dice
Branding & Job Advertisements $100 per each role
LinkedIn Search Cost
cost of Telephone Interview$30 per Role x 500 (1:5)
Cost of Interviews For 1:3 Shortlisted
Cost of InterviewsFor 1:2 Final Round
Cost of Obtaining Basic References$30 per role x 300 ( 1:3 )
Cost of Social Media Check$30 per role x 300 ( 1:3 )
Cost of Basic BG check$30 per role x 300 ( 1:3 )
Cost of Candidate Holding after selection$100 per candidate ( 1: 1 )
Cost of Infrastructure$50 per candidate ( 1:5 )
eg. internet,confectioneries,stationary
HireXtra RAAS ServiceAverage $300 per role
Total:
Cost per Resource:

Traditional Recruitment

$160,000
$75,000
$28,000
$10,000
$6,000
$15,000
$30,000
$20,000
$9,000
$9,000
$9,000
$10,000
$25,000
$0
$406,000
$4,060

HireXtra RAAS

75%
$ 40,000 *Only one resource required
$75,000
100%
$0
100%
$0
100%
$0
100%
$0
100%
$0
$20,000
100%
$0
100%
$0
100%
$0
100%
$0
100%
$0
$30,000
60%
$165,000
60%
$1,650

There are the huge savings on costs with HireXtra.com - Recruitment As A Service (RAAS) who manages advertising,shortlisting, phone screening, interviewing etc

How RAAS works
Talent Pool
Talent Pool