Estimate your yearly savings with The Swarm.
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With a recession looming, keeping recruiting costs down is at the top of most talent acquisition teams’ to-do lists. For high-growth startups, bringing on new hires is necessary, but it can be costly. Here's how The Swarm can save you time and money!
Number of hires per year:
Internal team
External firm
The Swarm
Your Swarm yearly subscription cost
As low as $2.8k
Your total yearly hiring costs (see below)
Your potential savings with The Swarm
Real cost per hire (A to E below)
$28,000
A. Ads and job boards cost per hire
$300
$0
$0
B. Additional internal recruiter cost per hire
$0
C. Team cost per hire
$6,000
$3,000
$1,500
Hours spent by hiring managers per hire
60h
30h
15h
Hourly cost of hiring managers involved
$100
$100
$100
D. Placement fee or commission per hire
$0
$25,000
-
E. Average cost of Swarm subscription per hire
-
-
$200
To create this calculator, we looked at the average costs for each line item below in the United States:
- In-house Talent Acquisition Specialist US salary: $100,000 /year
- Time spent by hiring managers: 63.25 hours per applicant
- Recruiting agency fees: 15-25% of new hire’s salary
- Job board posting: $200-$500 per month (average time-to-fill is 36 days), per post
Our data science team also estimated that:
- With The Swarm, we estimated you only need to hire a recruiter beyond 20 hires per year.
- Without The Swarm, we estimated you need to hire a recruiter beyond 10 hires per year, and two recruiters beyond 30 hires per year.
- You can cut time up to 4X of managing campaigns, job boards, reviewing resumes, planning and in low-potential interviews. Hidden cost is the loss of team productivity and opportunity costs that can weigh on your organization.
Want to bring your cost-per-hire down? Consider adding network recruiting to your recruitment process. Network recruiting allows you to lower your time-to-hire, increase the quality of applicants, and improve your retention rates — all while bringing down your recruiting budget. Get access to The Swarm!
