Finding the Right Talent:the True Cost

What is the end goal of hiring? It’s finding the perfect teammate to round out your team and bolster productivity! However, it’s not just as simple as, “We have an opening; job description gets posted, and

the best qualified job seekers start lining up!” Challenges surface that make hiring a much more complicated and costly process than you may have anticipated.

The SKILLS GAPNearly two thirds of US companies report having unfilled positions because they cannot find qualified applicants.

This is especially seen in technology and healthcare.

When asked what is driving the skills gap, employers pointed

to the following...

60%

The skills gap has a direct, negative e�ect on time to hire.

60 percent of employers are concerned about the costs associated with delays in filling open positions.

1 in 4 employers say they have experienced losses in revenue because they weren’t able to fill open positions.

1 in 6 CEOs indicated their company loses $25,000 or more

per open position due to long-term, unfilled positions.

UNEXPECTED COSTSFor example, let’s say you’re paying a new teammate $20 per hour. You could still wind up paying $3,500 or more for that employee in direct and indirect recruiting costs.

There are estimates that say salary + benefits costs between 1.25 and 1.4 times more than your teammates’ salaries.

So what is the solution?

To learn more, please visit www.medixteam.com

Education Gaps in wageexpectations

Higher than entry-leveljobrequirements

New or evolvingtechnologies

Additionally, there o�entimes is lower morale due to employees carrying heavier workloads. There is also the risk of unfinished work, delays in deliver times and declines in customer service.

SOURCESwww.fortune.com/2015/05/12/how-u-s-companies-can-fill-the-skills-gapwww.careerbuilder.com/share/aboutus/pressreleasesdetail.aspx?ed=12%2F31%2F2014&id=pr807&sd=3%2F6%2F2014 www.thehiringsite.careerbuilder.com/2014/03/06/cost-of-unfilled-positionswww.thehiringsite.careerbuilder.com/2015/08/24/3-ways-justify-recruiting-spendwww.theundercoverrecruiter.com/true-cost-hiring-new-employee

TIME/ENERGYDRUGSCREENSBACKGROUND

CHECKS

JOB BOARDS

SUTA FUTA WORK COMP

ONE SINGLECOST

TALENT EXPERIENCE

NICHESANDBOX

TIME TOFILL