Ready to start saving money?

Use our calculator to see how reducing candidate falloff and automating your onboarding process can lead to big savings!

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 (%)

Bottom Line

$2,280,000
Cost Savings
37%
Less Cost

With Essium, you save money.

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.
 
(Annual Hires)
= (Total Candidates)

(1 - %) (Falloff Rate)
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.
 
X + X = (Before)
X + X = (After)

    (Cost Savings)
 
/ = % (Less Cost)

How we do it

1. Automated Notifications and Reminders:

  • Less Falloff: Proactive notifications and reminders keep candidates engaged, reducing the chance of them forgetting important steps or deadlines. This leads to a smoother, more seamless experience, minimizing drop-off.
  • More Automation: Automating these messages eliminates manual emailing and phone calls, freeing up recruiters and HR teams to focus on higher-value tasks.

2. Automated Hiring Packet Creation:

  • Less Falloff: Creating standardized, easily accessible digital packets that include all the necessary documents eliminates the need for cumbersome paper processes. This makes it easier for candidates to complete the onboarding process, minimizing frustration and drop-offs.
  • More Automation: Automating packet creation eliminates the need to manually assemble and distribute physical packets. This saves time and reduces the risk of errors or omissions.

3. Built-in Electronic Signatures:

  • Less Falloff: E-signatures make the process of signing documents simple and convenient for candidates, especially when they’re on the go. This reduces friction points and encourages them to move through the process smoothly.
  • More Automation: Eliminating the need for paper documents, printing, scanning, and physical signatures streamlines the process drastically.

4. Form Field Validation:

  • Less Falloff: Real-time form field validation prevents errors, ensuring candidates submit complete and accurate information. This eliminates the need for resubmissions and rework, minimizing frustration and drop-offs.
  • More Automation: Automated validation removes the manual task of reviewing forms for errors, freeing up staff to focus on other tasks.

5. Magic Login Links:

  • Less Falloff: Simple and secure login links make it easy for candidates to access their onboarding portal and progress through the process. This reduces frustration and increases the likelihood of completion.
  • More Automation: By automating the creation and delivery of login links, recruiters and HR teams save time and resources.

6. Mobile-friendly, Self-service Candidate Hiring Portal:

  • Less Falloff: Candidates can access the onboarding portal on their phones or tablets, making it convenient to complete tasks and submit documents on their own time. This fosters a positive candidate experience and reduces drop-offs.
  • More Automation: A self-service portal shifts the burden of managing onboarding from the team to the candidate, allowing recruiters and HR teams to focus on strategic initiatives.

7. Real-time Reporting:

  • Less Falloff: Real-time reporting enables proactive intervention, identifying and addressing bottlenecks before they cause candidates to abandon the process. This is achieved through instant visibility into candidate progress, automated alerts for stalled steps, and analysis of falloff patterns to optimize the onboarding process.
  • More Automation: Real-time reporting empowers automation by providing data-driven insights for informed decision-making, automating task assignment, and automating report generation. This frees up time for recruiters and administrators to focus on strategic initiatives.

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