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The staggering cost of failed hires

Juliet Eccleston
recruitment

In independent research which was commissioned by peer-to-peer recruitment platform, AnyGood?, the vast majority (90 percent) of the 1000+ individuals surveyed stated that they believed recruiters were failing to match the right applicant with the right role. Juliet Eccleston, Co-Founder – AnyGood?

“There’s a significant amount of wastage in the hiring process at the moment that has huge potential to be damaging for an employer’s brand positioning, competitive reputation and bottom line results. When we consider that last year Virgin media revealed that it was losing an estimated £4.4 million per year due to a negative candidate experience, having so many applicants feel their time is being wasted makes no business sense.

The simple fact is this: existing hiring processes do not work. They are outdated, untrusted and unregulated. The fact that so many of the survey respondents didn’t feel they were being put forward for a relevant position clearly indicates that too many recruiters are throwing CVs at clients in the sheer hope that one will make the grade.

“Given the significant investment most businesses will make when using an agency to hire staff, this process is clearly a waste of both time and money – and it needs to change. We’re operating in a world now where it is all too common to see inefficient and costly processes challenged by forward thinking businesses and individuals – take PurpleBricks and Airbnb, for example. The same is needed in recruitment. Now really is the perfect time to drive disruption for the benefit of businesses and talent pools alike.


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