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Due to the cost of hiring employees, businesses are hesitating to hire new people even if they need workers. What business owners forget easily is that taking on a new employee means more than paying their salary.
Due to the cost of hiring employees, businesses are hesitating to hire new people even if they need workers. What business owners forget easily is that taking on a new employee means more than paying their salary.
Often, integrating a new employee into the organization can require time and expenditures. At Alic Consulting, we try to offer a common language for our clients and employees and find the best suitable candidates for the positions your business needs.
What do you have to pay attention when it comes to new hirings
What do you have to pay attention when it comes to new hirings
When hiring new people, we have to consider other aspects rather than just the paycheck. There are costs related to recruiting, training, benefits, and more. If you are a business owner, do not be discouraged. Usually, it takes up to six months for a company to gain their return on investment by hiring a new person.
The Cost of Recruiting
There are various potential high costs just at the beginning of the process. To start the process of hiring, we need to recruit new people. We are talking about background checks, conducting multiple interviews, and pre-employment tests. If you are a business owner, lucky for you, Alic Consulting is very proud of our recruiting process for new applicants. Our automated system recognizes red flags during the application process and makes the final decision easier. Click here so we can help you to find the best candidates for your organization.
The Cost of Training
After sourcing the right person during recruitment, we focus on training so the new employee(s) can start producing results for the company. It turns out that training is one of the costliest investments when hiring new people. According to the study held by Training Magazine, in 2020-2021, US companies spent $92.3 billion on training. But, if you take into consideration that this is the most important thing when hiring new people, no amount of money is too much for the training process. At Alic Consulting, we offer you and your employees materials and training to help your business grow and produce well-trained people that know the business in and out.
The Cost of Salary and Benefits
The last and the most obvious cost of a new employee is their salary. Do not forget about their benefits. Those benefits can be small vouchers to a local shop, or life insurance, medical plans, cash bonuses, and so on.
To get the best grasp of the situation, use some useful online tips to help you calculate if you can afford a new employee and how much is that going to cost you. The price depends on the business that your company operates in.
The cost of hiring can affect company finances in multiple ways. Alic Consulting can help you to understand these topics and can offer outsourcing services, which means that we can reduce the cost of hiring. We developed a complete way to hire people to lower your cost per hire. Learn more about our hiring solutions.
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