Vocate Blog

The Cost of Hiring

How much more time are we going to spend on this?

Most organizations recognize the value in employing entry level talent (and for those who missed last week’s piece, refer here: Unlocking Human Potential) though why do most departments find the process to be so difficult? Hiring bright recent grads shouldn’t be a pain point, or represent a significant cost center for employers.

HIGH VOLUME, HIGH EFFORT

The recent talent crunch coupled with greater access offered through professional networking sites has allowed recent grads the opportunity to apply virtually everywhere, virtually. Most organizations see increased applicant volume as a good thing, and in many instances it is, however it’s critical to consider the quality of inbound interest. Do entry-level applicants possess the skill-set and experience you’ve determined to be necessary for success? Are entry level applicants legitimately willing and able to relocate for the role? Managers are spending huge time answering these questions. In our minds, that is not time well spent.

COST: INTERNAL AND EXTERNAL

When we think about what entry-level hiring really costs an organization there’s a lot to consider. Outside the more obvious expense items associated with university-recruiting personnel, using third-party recruiters and staffing firms, ATS software platforms, and T&E spend on in-person campus visits, we must factor the time and headache spent internally on sourcing recent grads. Indirect costs include sales managers’ time spent interviewing rather than winning new business, and software developers pulled away from critical projects to pre-screen technical applicants. Job boards, marketing efforts, in-person interviews, non-starts lost to competitors; these things add up and add up fast. Between direct and indirect costs, organizations spend more than $8,000 and 18 hours in sourcing and interview time per entry-level hire. Plain and simple, the process is really really expensive, and it’s largely ineffective.

BACK TO BASICS, FOCUS ON WHAT MATTERS

Running a business requires massive energy investment. We built Vocate to help companies save time and avoid the headache associated with finding bright grads on campus. We don’t charge a subscription, and won’t bombard your talent funnel with non-serious students. Our software platform allows users access to pre-interviewed graduates who’ve demonstrated a high probability fit at your organization, both culturally and technically. Vocate graduates have done the research and understand what it means to work at your business. We make matches and interviews available at no cost, allowing us to take risk out of the process. We’ve provided employers the ability to turn a fixed cost into a variable cost, while also offering access to diverse entry-level talent, on demand. No more job boards, no more career fairs. This is the new way the world works.

 

Matt Miles

Matt Miles leads Business Development at Vocate, the modern replacement for the Campus Career Center. To discuss how Vocate may help university hiring at your own organization, please contact: Matt@Vocate.me