This article says it costs organisations AUD $18,982 to hire a new person.
This survey of over 1,500 HR professionals across ANZ found an organisation’s average cost of hiring a new executive is $34,440, compared to $23,059 for senior-level managers, $17,841 for mid-level and $9,772 for entry-level positions. HCA Magazine says $21k per person.
On turnaround: Australian companies typically fill vacant roles within 39.2 days — recruitment is over one-week slower in New Zealand, with roles filled within an average of 47.2 days. More in this article.
But AFR says it takes an average of 82 days to fill in a vacant position.
Podcast below mentioned this meta-study. The finding: past experience rarely predicts future performance. What matters is past performance and current motivation and ability. It’s how well people can learn to do a job, not how long they’ve already done it.
Job postings with minimum years of experience often prevent promising people of colour from getting a foot in the door.
In 2023 the big thing is ChatGPT. read this blog on how to leverage Chat GPT for recruiting.
