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"Shocking" rise in cost and time to hire
The cost of a new hire has more than doubled in the past year, while the time it takes is also worryingly high, according to "shocking" research released today.
According to the HR Industry Benchmark Survey by Elmo Software and the Australian Human Resources Institute, the average cost to hire has jumped to $23,860 per candidate, from $10,500 a year ago.
"It was a pretty surprising and, for employers, shocking bit of feedback," Elmo CEO Danny Lessem tells HR Daily.
The cost is measured from both direct inputs, such as advertising on job boards, and indirect costs, such as labour costs...
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