With iViioo, you can achieve high cost efficiency and recruit more top talents.

Cost-Per-Hire (CPH) is a common measurement used by organizations to evaluate how efficient their recruiting practice is.  The following demonstration explains how you and your organization could get great cost savings over recruiting activities.

The major categories of recruiting activities include:

• Recruiting Ads: online advertising, print media, company website, career fairs
• Recruiting Agency: resume sourcing, head hunting, pre-assessment and tests
• Recruiter Costs: recruiter’s time, management time, interview location
• Travel Costs: flight tickets, taxis, hotels
• Relocation Services: flight ticket, temp housing, moving expenses, etc.
• Financial Incentives: Recruiter’s bonus and referral bonus

In the US, the average Cost-Per-Hire is $6000-$10000, in which a recruiting agency, recruiting costs and travel account for more than half of the costs. Below is a simple screening/interview cost calculation that helps you find your time and cost saving potential:

Assuming your team on average have 10 opening per year:

Assumptions:
Average traveling cost per candidate = $600 (flight $300, hotel $200, other $100)
Employee’s gross salary per hour = $40
Management’s gross salary per hour = $80

Your current interview and screening cost is: $5600
Total Recruiting Cost spending on screening and interviewing per year: $56,000 
Total Time spent on screening and interviewing per year: 13 weeks of time

• Recruiter: 200 hours (25 man-days)
• Hiring Team Employee: 200 hours (25 man-days)
• Management: 200 hours (25 man-days)

Your enhanced interview and screening cost is: $2780
Total Recruiting Cost spending on screening and interviewing per year: $27,800, savings of 50%+  
Total Time spent on screening and interviewing per year: 6 weeks of time, shorten 50% of time

• Recruiter: 110 hours (14 man-day)
• Hiring Team Employee: 60 hours (8 man-day)
• Management: 100 hours (13 man-day)

With iViioo, you can save both time and money. More importantly, you can increase your search scope, and your hiring team will be able to decide who the best fit is in a much easier fashion. In the long run, the turnover will be lower because your quality of hire is much more satisfying.