Research has found that that UK business would be best suited to use recruitment agencies when hiring graduates
Research undertaken by REC (Recruitment and Employment Confederation) has found that UK businesses could save up to £2billion a year on recruitment. With 400,000 permanent jobs being filled by recruitment agencies every year, amounting to £700 million being spent on advertising, UK businesses need to get smarter when recruiting their graduates.
One in five recruitment agencies feel that many businesses are trying to take on the recruitment process themselves to save money. Recruitment advertising can be a very expensive cost for businesses, because they don’t have the advertisement in place to reduce the recruitment costs. However if you use a recruitment agency they have the procedures in place to make the recruitment costs a lot less.
A competency based recruitment agency will spend on average 80 hours including training, recruiting a graduate for a job, which will cost £69 per hour. Whereas a business will spend 2 hours over an interview and end up spending £5,300 in recruiting that graduate.
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