top of page

How Much Does It Cost to Recruit Staff?



Technologijomis papildyta personalo paieška yra puiki alternatyva, galinti pakeisti nusistovėjusias personalo atrankos specialistų pareigas

Technology-enhanced staffing is a great alternative that can reduce company costs


Recruitment is a crucial process for businesses, recruiters, or specialized recruitment agencies to find suitable candidates for job openings. This process involves steps like crafting job advertisements, screening applicants, conducting interviews, and more. While traditionally time-consuming and expensive, technology offers avenues for optimization, resulting in significant cost savings.


Typically, recruiters invest significant time in reviewing CVs, searching for keywords, and deciding who will make it to the next round of interviews. Despite candidates' confidence that their CVs align with job postings, they are frequently challenged to meet the essential criteria outlined in the advertisement. Therefore, manual CV checking is one of the most time-consuming (and error-prone) parts of the selection process. In the sea of resumes, it's all too easy to overlook exceptional candidates!


Using technology to improve recruitment can completely revolutionize how recruiters work, making it faster, more accurate, and more efficient to find the right professionals. Additionally, with algorithms and artificial intelligence, companies can cut their recruitment costs by 50% to 70%. So, it is worth looking at how much it costs to find workers in Lithuania.


Calculating Recruitment Costs


Typically, a recruiter handles around 20 job positions, ensuring they can devote sufficient time and attention to each one. Therefore, having at least five recruiters is advisable for a company to hire 100 new employees yearly. However, the exact number may vary based on factors such as the job's complexity, labor market competitiveness, and the HR department's resources.


According to sources such as PayScale, Glassdoor or LinkedIn, the average gross salary of an HR professional in Lithuania can range from EUR 12,000 to EUR 25,000 annually. Therefore, recruiting 100 employees could cost a company approximately EUR 60,000 to EUR 125,000 per year.


Recruiting through external agencies incurs slightly different costs, depending on factors like job type, required specialization, and agency reputation. Typically, these agencies charge a percentage of the candidate's first-year salary, ranging from 10% to 30%, although fixed fees or hourly rates are possible. Additionally, they may offer various pricing structures or discounts based on factors such as exclusivity (the company agrees to work only with the agency for a certain period), volume (multiple positions to be filled), or search complexity. Companies can negotiate prices to align with their specific needs and budget constraints.


Embracing Technological Innovations


AIDA Recruitment pioneered a novel recruitment approach in Lithuania, aiming to redefine the recruitment service and make it more affordable. According to CEO Antanas Giraitis, reliance on manual selection processes consumes excessive time and effort. By adopting automated initial recruitment, the company achieves greater efficiency in identifying suitable specialists from a large candidate pool at a significantly reduced cost.


One candidate's automated search, selection, and successful recruitment costs EUR 500, while recruiting 100 candidates costs EUR 50,000. Additionally, the agency serves as a temporary recruitment solution for project-based or fixed-term work, swiftly filling temporary positions without needing external recruitment companies. Moreover, the agency's specialists offer external recruitment consulting services, including CV reviews, initial job interviews, and valuable insights, all while minimizing costs for organizations.


The agency allows companies to conduct initial candidate interviews using TeamFill's video interviewing platform – a cost-effective alternative to traditional face-to-face interviews. This approach not only saves costs and time but also offers greater scheduling flexibility. AIDA Recruitment estimates that by optimizing the initial screening and interviewing processes, companies can save between 50% and 70% of their recruitment costs while maintaining a competitive edge in the market and attracting top-notch professionals.



 

Revolutionize Your Hiring Strategy:


Are you a company seeking top-tier talent? Embrace the power of AI in recruitment to elevate your hiring process. Request a free initial consultation with our recruitment experts and discover how innovative solutions can transform the way you find and hire the best candidates.




コメント


bottom of page