Reduce Hiring Costs

Hiring costs can be a significant expense for any organization. Traditional recruiting methods such as job postings, career fairs, and recruitment agencies can be costly and time-consuming, and may not always result in successful hires.

ERIN can help organizations reduce hiring costs by streamlining the recruitment process, reducing recruitment advertising and agency fees, and improving retention rates, which leads to higher-quality hires.

Reduce hiring costs through employee referrals & internal mobility

Let the Numbers Speak for Themselves

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Employee Referral Hires

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Faster Filling Positions

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Turnover Decrease

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Reduction in Cost per Hire

How do employee referrals reduce hiring costs?

Faster Hiring Process

$454 is lost per week per vacant job position. According to the Society for Human Resource Management (SHRM), the average position takes 42 days to fill. So the total cost is $4,129.

ERIN takes an average of 21 days to fill a job, causing a loss of only $1,362 per unfilled role. That’s $2,767 that a company can save by using ERIN.

Eliminate Recruitment Fees

With ERIN, organizations can incentivize employees who refer successful candidates, which can reduce recruitment fees that would have been paid to outside agencies or recruiters.

According to Crelate, the standard recruiting fee for agencies is between 15% to 20% of the first-year salary, whereas some agencies charge 25% for hard-to-fill roles.

Reduced Advertising Costs

Employee referrals can help to reduce advertising costs since current employees can share job openings with their networks through social media or word-of-mouth.

Using ERIN, current employees can share job openings to their network with a click of a button.

Higher Retention Rates

Referred employees often have a higher retention rate than those hired through other channels since they have already been vetted by someone in the company and have a connection to an existing employee. This can lead to lower turnover costs and a more stable workforce.

Decrease hiring costs