How booking flexible meeting rooms can help companies reduce on ‘cost per hire’

How booking flexible meeting rooms can help companies reduce on ‘cost per hire’

Today more than ever, it is evident that people are the most important assets of any organization. With new jobs being created every day and hiring demands steadily rising, today’s recruiters need tools that help them successfully compete for talent

Forget data, innovation and all that for a moment, in what is turning out to be a knowledge-based economy, employers will seek skills, creativity and education background.

It is becoming even more important for any firm regardless of size to hire the very best. The ‘war on talent’, is probably one thing that modern firms will find themselves competing in years to come.

Here is where concepts like Cost per hire come to play. Cost per hire is one of the most important metrics in recruitment. Cost per hire measures how much it costs a company to fill an open job position.

It includes all the costs associated with filling a position, such as advertising expenses, recruiting events costs, recruitment software fees, relocation expenses, etc.

Cost per hire can also apply both to internal promotions within the organization or transfers, as well as new hires recruited from outside the organization.

Mostly this depends on the size of the company, the seniority of the position being filled and the strength and efficiency of in-house recruiting.

In fact, a study by Deloitte, highlighted by Brighter Monday showed that by 2015, Cost Per Hire costs a company approximately $4000. This could have probably gone up.

However, for most organization the biggest challenge lies in trying to reduce your cost per hire, the challenge is figuring out how to save money without sacrificing candidate quality.

Through this, more employers are opting for other avenues such as online job boards, conducting group interviews and In fact with the rise of the recruiting firms, today more organizations are seeking to outsource the entire hiring process.

Another way to reduce costs that you have not probably looked into previously is by booking a meeting room for the exact amount of time you need it and the exact people you need. In most cases, this would cost you about KES 2000.

Hiring a meeting room for an hourly rate also helps you reduce the disruption to your own operations. This means costs are kept to a minimum and can be factored into expenditure from the outset.

Additionally, most meeting rooms are equipped with modern technology amenities that can easily allow you as an employer to attend virtual job fairs hence cutting on your travel costs that have become exorbitant, especially when you are sending team members who are paid by the hour (such as contract recruiters!).

These days, you don’t have to spend money on travel to events. There are cost-effective tools available to host or attend job fairs online as if you were attending in person.

Also getting a teleconferencing facility for your team can be expensive and might not be needed daily. However, booking meeting rooms with teleconferencing facilities becomes way cheaper and can enable your team to hold skype Interviews or meetings.

Nearly everyone has access to Skype Account today and a high-speed Internet connection, so using Skype and booking meeting rooms with teleconferencing facilities could greatly reduce the costs of travel for candidates.

We offer some of the city’s most flexible, modern and comfortable meeting rooms and boardrooms If you’re in need of a professional space to meet, we have meeting rooms and boardrooms to hire that can accommodate 4 people up to 30 people. Fully serviced and bookable on-demand, by the hour.