In today’s highly competitive job market, hiring the right talent isn’t just crucial; it’s a necessity for business survival. However, the recruitment process is often more arduous and expensive than many organizations anticipate. While the Do-It-Yourself (DIY) model has been a go-to approach for many, we need to shine a spotlight on its true costs, both in terms of time and money. Here, we’ll break down these costs and introduce you to Necta—a revolutionary, low-cost, high-value, end-to-end talent acquisition and management service that leverages the power of technology and scalability.
Breaking Down the True Costs of DIY Talent Acquisition
Job Description Writing
- Time: 3-5 hours
- Cost: $150-$250
Crafting a compelling job description is more than just jotting down a list of responsibilities. It involves understanding the role, the necessary qualifications, and how to attract the right candidates. As you can see, even this initial step requires a significant investment of time and money.
Marketing Strategy
- Time: 5-10 hours
- Cost: $250-$500
Whether it’s deciding on the advertising platforms or the ad spend, a lot of strategic thinking goes into how you market the job vacancy. That’s without considering the execution time and monitoring to see what’s effective.
Listing Agency Fees
- Time: 1-2 hours
- Cost: Varies ($350 for Seek, $870 for LinkedIn)
Posting your job description on leading platforms also incurs a cost. Moreover, each platform has its own quirks and requirements that need to be catered to, further adding to your workload.
Reviewing CVs
- Time: 20-30 hours
- Cost: $600-$900
Imagine sifting through hundreds of CVs. The time adds up quickly, and so does the mental fatigue, which can lead to less-than-optimal decision-making.
Interviews
- Time: 20-40 hours
- Cost: $500-$1,000
The time-consuming process involves scheduling, planning, conducting, and then debriefing. Often, multiple team members are involved, multiplying the actual hours spent.
External Tests
Whether it’s a skills test or a personality assessment, each test incurs a cost. These are essential but often overlooked.
Psycho Metrics
These tests aim to ensure that your chosen candidate is not just right for the job, but also for the organization’s culture. Time and costs are both factors here.
Negotiations
- Time: 5-10 hours
- Cost: $250-$500
Even after selecting a candidate, the negotiations can be protracted, especially for higher-level positions.
Reference Checks
- Time: 1-2 hours
- Cost: $50-$100
These checks are the final validation step and while they may seem trivial, the time and cost do add up.
For Contractors
Additional monthly costs such as payroll, insurance, and timesheets further inflate the expenses.
Total average time: 101 hours
Total average cost: $5,600
And remember, this is a recurring cost for every hire, not a one-time expense.
The Necta Advantage
Comprehensive Package
For a flat fee of $6,000, Necta provides an all-inclusive, automated solution. From job description creation to contract negotiation, we handle it all. What’s more, you only pay when the contract is signed.
Swift Delivery
Our statistics show that 88% of our clients receive candidate profiles within five working days. That’s efficiency you can count on.
Unbiased Approach
We standardize CVs and provide interview preparation for candidates, ensuring that you hire based on merit, not on who is the best at selling themselves.
Retention
Our unique cultural fit algorithm has resulted in zero candidates leaving within the first three months of employment.
Contractor Convenience
For contractors, Necta takes care of payroll, insurance, and timesheets for just $2 per hour, providing tremendous value.
Conclusion
In an average DIY scenario, you’re looking at spending almost $6,000 and 101 hours to fill a role, whereas Necta offers a complete, end-to-end solution for the same cost but with a significantly lower time investment. It’s not just about matching costs, it’s about providing additional value that can only come from a technology-driven, scalable solution.
Necta is designed for modern-day talent acquisition—swift, reliable, and hassle-free. So why spend more when you can get more for less? Welcome to the future of talent acquisition. Welcome to Necta.
