Paul Dordal Executive Director Board of Directors Meeting 28 January 2010.
Paul Farrer at July 2013 Directors Event
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Transcript of Paul Farrer at July 2013 Directors Event
// More Together
Recruitment Mistakes
hundredI’ve made a few
Mr Impressive
Why people leave Aspire?
10% fail probation34% other rec co10% own biz30% out of rec10% relocate6% other
70% of those who joined other recruiters – were on performance objectives.
40% joined competitive companies
100% of new employers didn’t request a reference
7 were recruitment mistakes
The real cost of recruitment mistakes – cost per desk
• Annual NFI/NDR/GP per employee = opportunity cost of a desk
• Divide by 52 for opportunity cost per week• Multiply by number of weeks desk is vacant = base
cost• Add recruitment costs = any R2R fee, add costs +
management time• Add induction costs = management time• Add weeks taken to bill • Add annual NFI/NDR/GP per employee less billings• = Real Cost
Aspire cost of recruitment mistakes – cost per desk
• Annual NFI/NDR/GP per employee = £102,786• Divide by 52 for opportunity cost per week = £1977/wk• Average Number of weeks desk is vacant = 5 x 1977 =
£9885• Add recruitment costs = possible R2R fee + management
time• Add induction costs = management time• Add weeks taken to bill = 10 x 1977 = £19,770• Add annual NFI/NDR per employee (£102,786) less billings
(av £95,692 1st 12 months) = £7093• Real Cost per hire = £36,748• Of which 7 replacements were recruitment
mistakes = 7 x £36,748 = £257,236
Aspire cost of mistakes – FEE EARNING DESK
• Annual NFI/NDR/GP per employee = £132,933• Divide by 52 for opportunity cost per week = £2556/wk• Average Number of weeks desk is vacant = 5 x 2556 =
£12,780• Add recruitment costs = possible R2R fee + management
time• Add induction costs = management time• Add weeks taken to bill = 10 x 2556 = £25,560• Add annual NFI/NDR per employee (£132,933) less billings
(av £95,692 1st 12 months) = £37,241• Real Cost per hire = £75,581• Of which 7 replacements were recruitment
mistakes = 7 x £75,581 = £529,067
Mistakes we have made……..
RECRUITING SKILL SET WE DIDN’T MASTER
EXEC SEARCH, HR, ITBuckle to pressuretime, Candidate under offer
A c c e p ti n g l o w e r s t a n d a r d sB e s t o f b a d b u n c hToo much influence from
one manager
Manager prepared to take a risk
Recent joiner
recommendation
….. more than once!
Assuming track record of success in one marketwill transfer to ours
Not taking references
What we have tried
• RCQ – psychometrics
• Role plays• Presentations• Competency based interviews• Values based interviews• Team drinks• Reference Checking• Linkedin Profile v CV• HR Director does ALL 1st interviews
And finally