Enter the following information about your staffing business to find your potential savings. The calculator will use actual metrics from our current customers to show that reducing falloff and increasing automation leads to significant cost savings:
Input | Value |
---|---|
Annual Hires | |
Average Recruiter Salary | |
Number of Recruiters | |
Average Admin Salary | |
Number of Admins | |
Candidate Falloff Rate (%) |
My math professor always made me show my work to get credit. Let’s break down the results to see how we arrived at your numbers:
Step 1:
Calculate the number of candidates that need to be recruited
Not every placed candidate will start. The falloff rate represents the additional recruiting effort required to achieve your annual hires. We work backward to find the number of candidates you must recruit based on your current falloff rate. |
|
|
= (Total Candidates) |
Step 2:
Calculate the impact of reducing falloff
Essium has a proven track record of reducing falloff by 50%. Using your current falloff, we can calculate that reduction. Less falloff means less recruiting effort. |
|
(Falloff Before) X 50% = (Falloff After) | = (Total Candidates) |
|
= % (Less Recruiting Effort) |
Step 3:
Calculate the impact of increased automation
Administrative burden can be reduced through automation. Many of our customers enjoy automation rates of 80%. The effect of the automation can be measured by the number of hires each admin manages. |
|
(Annual Hires) / (Number of Admin) = (Hires per Admin) |
|
= % (Less Admin Effort) |
* Based on actual customer usage |
Step 4:
Calculate the number of admins and recruiters needed after reduction
Using the reduction in recruiting and administrative effort from steps 2 and 3, we can calculate the reduction in staff necessary to manage your process through our software. |
|
X (1 - % (Less Recruiting Effort)) | = (Recruiters) |
X (1 - % (Less Admin Effort)) | = (Admins) |
Step 5:
Calculate cost savings
Now we can calculate the before and after salary costs to find you potential savings. Since people are a businesses highest cost, streamlining processes through technology leads to significant savings. |
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X + X | = (Before) | |
X + X | = (After) | |
(Cost Savings) | ||
/ | = % (Less Cost) |
1. Automated Notifications and Reminders:
2. Automated Hiring Packet Creation:
3. Built-in Electronic Signatures:
4. Form Field Validation:
5. Magic Login Links:
6. Mobile-friendly, Self-service Candidate Hiring Portal:
7. Real-time Reporting: