Your workforce is the biggest factor in your success. Unfortunately, it is also probably the biggest item on your budget. Find out how you can keep these costs under control with our infographic.
What is the real cost of hiring employees?
Recruiting expenses alone – advertising, salaries paid to internal staff to conducting interviews and review resumes, drug screens, background checks, employee assessments – can quickly add up to thousands of dollars per hire. In fact, it can cost about $3,500 to fill a minimum-wage position.
What are other staffing expenses to keep in mind?
In addition to recruiting costs, there are expenses associated with managing your team of existing employees. For example, companies spend an average of more than $1,200 annually on training costs alone.
Additionally, benefits can severely hamper your budget, rogue spending can become an issue, and complying with new laws and regulations like the Patient Protection and Affordable Care Act can be a daunting task.
To help curb these costs and headaches, Adecco offers free online skills training to all associates. This value-added service comes standard with our staffing solutions, allowing our associates to strengthen their skills without costing you a dime. In addition to saving you money, you’ll also benefit from a more skilled, productive and knowledgeable workforce.
Adecco also offers a Workforce Readiness Certification Program – the first of its kind in the staffing industry. Through this program, we offer standardized training courses and curricula based on industry best practices and our experiences working with Fortune 500 companies. After completing the courses, associates must pass an in-depth assessment with a score of at least 70 percent. This program gives associates access to valuable vocational training while giving our clients peace of mind that our candidates are ready to work.
How else can Adecco help reduce staffing costs?
At the outset of every engagement, we aim to maximize the productivity of our client’s workforces. However, we also strive to deliver outstanding Return on Investment. Here’s how we do it:
- Ensuring the best match between your jobs and our candidates, thereby reducing turnover and enhancing productivity
- Benchmarking performance and tracking metrics to ensure accountability and visibility
- Continuously monitor rates to make sure they are competitive and in line with current salary trends
- Eliminate exposure to risks, including worker misclassification, safety concerns and non-compliance
- Conducting in-depth safety trainings to reduce workers’ compensation costs
- Proactively controlling overtime
- Leveraging the latest in performance management and time-capture technology to reduce downtime, eliminate bottlenecks and decrease frustration for our clients and candidates alike
Are you ready to cut your staffing costs?
By implementing some of the strategies discussed in the infographic, you can substantially reduce your workforce costs. However, we realize that you may need a little help along the way, and our recruitment experts are here and ready to help.
Contact Adecco to find out how we can help you cut your staffing costs while adding top talent to your team.