Do You Know The True Costs Of Temp Recruitment?
The temporary staffing industry in Australia is worth $26billion.
This industry is expected to grow by 3% over the coming years as outsourced labour continues to gain rapid momentum, primarily driven by the acute need for organisational flexibility and responsiveness due to absenteeism, seasonal demand or project-based work.
HR managers have a responsibility to look for marginal advantages to secure, develop, and retain the right talent for their organisations now not only in a full-time capacity but also in a temporary labour market.
New technology platforms are playing an integral role in the facilitation of hiring outsourced labour, giving businesses access to a more cost-effective solution to source, hire and manage temporary staff–essentially removing the need to engage with an external temporary labour firm and giving businesses more transparency and control over temporary labour hire.
The first step prior to analysing new solutions for your business is to understand the true costs of hiring temporary staff.
Then you can investigate new ways to eliminate or offset these costs.
Costs Of Recruiting Temp Staff
Internal Recruitment
Businesses who prefer to recruit internally are most likely looking for transparency and control over who will be working for them.
- Time spent preparing job advertisement
- Fees involved in posting on a job board
- Time spent looking through resumes
- Time spent interviewing
- Administration costs involved in onboarding (payroll setup)
We have estimated this to cost around $5,500 per hire.
External Recruitment
Businesses who engage with an external agency most likely are time-constrained and need a fast solution.
- A premium fee is charged at a percentage of the temps hourly rate
- No control or transparency over who will be working for you
Understanding the costs involved in recruiting your temporary staff gives you the power to assess the alternative solutions available today.
With temporary staffing platforms like Sidekicker, efficiencies gained in technology mean that you can save up to 70% on external agency fees, while enjoying the control and transparency of choosing who works for you as you are able to hand-select your own temps.