How to Save 23% on Recruitment Costs

Here's how we can save you 23% on recruitment costs, reduce time to hire by 14 days, and still give the candidate the same amount of face-time with the business.

We have reviewed the internal hiring process of an MSSP client who do huge volumes of mid-level security hiring, at up to €80,000 salaries.

Reducing costs during the interview process is a key focus for them. They also lose candidates towards the end of the interview process; speed is important due to high demand for security specialists.

Here are our suggestions.

Current process:

Currently all stages take one hour, plus 30 mins preparation and feedback per interview. CV received means received from the internal recruiter, or an external supplier.

Suggestion: combine two interviews into a 1h30 interview for candidates at this level.

This will save 14 days in your interview process, which should increase candidate interview to hired ratio, as below. ?

Suggested format:

As there will be “cross-over” in interviews, feedback and preparation should take less time per person.

Taking these steps may reduce OPEX cost per hire by 23% without reducing face-time with the business.

See below salary assumptions and calculations:

*Yearly cost assumptions include benefits, holidays, taxes, etc. HR/Recruiters cost a 1.33 x multiplier for benefits. Business leaders cost a 1.4x multiplier for benefits.

**2086 hours/year = 40 hours/week x 52.143 weeks/year. Hourly cost is for a full year, as holidays are included under yearly costs.

In summary, following our suggestions should:

• Save you 23% on OPEX recruitment costs
• Reduce your interview process by 14 days
• Still give the Candidate the same amount of face-time with the business

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Whenever you’re ready, there are 2 ways I can help you:

1. If you’re an Employer:

→?Read our Free Guides:?10 Step Guide To Hiring A Security Specialist?and?7 Steps To Fix Your Recruitment Process.

→?Download our Free eBook,?“13 free tips you can use right now to hire security talent”. This is our ultimate 27-page guide to building your security team.

→?Or speak to me directly here:?Book a Security Hiring Strategy Session.?

2. If you’re a Candidate:

→?Read our Free Guide:?How To Negotiate Salary.

→?We place security specialists across Europe.?Get in touch?if you are looking for another opportunity.

→?Or use our?CV Rewriting Service to Fix Your CV.

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If you liked this, you may also be interested in last week’s Newsletter,?The Truth About Fintechs.