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MYTH #3: It is more expensive to use Thomas in-house than it is to use other traditional recruiting methods.
The cost-comparison chart below outlines the difference in total costs incurred by clients using the four recruiting options available (including using Thomas). As you can see, there are tremendous cost savings by using Thomas in-house because of the following reasons:
A) You'll never have to farm a position out to another outside agency - we either fill the positions or we refund money back to you!
B) We pay for all job postings, resume subscriptions services, and any other normal vendor product needed to fill your openings.
C) Low overhead costs - no need to keep us on board once your hiring needs slow down.
All Costs are on a 6 month Basis needed to fill 15 open positions |
Hiring your own Permanent Recruiter |
Hiring a Contract Recruiter |
Using an outside contingency agency for most positions |
Bringing Thomas Executive Resources In-House |
Average number of Recruiters to hire* |
1 |
1 |
0.5 |
1 |
6-month average compensation per Recruiter |
$45,000 |
$75,000 |
$60,000 |
$98,000 |
Plus: Benefits to pay out for permanent employees |
$15,000 |
$0 |
$10,000 |
$0 |
Severance to pay out to let employees go when hiring slows down |
$7,500 |
$0 |
$2,500 |
$0 |
Number of outside searches to pay for |
2 |
2 |
8 |
0 |
Fee per search |
$20,000 |
$20,000 |
$20,000 |
$0 |
Plus: Job Postings, resume subscription services, etc. |
$24,000 |
$24,000 |
$15,000 |
$0 |
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|
|
|
|
Subtotal Staffing costs |
131,500.00 |
139,000.00 |
217,500.00 |
98,000.00 |
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|
|
|
|
Less: Economies of Scale Savings |
0.00 |
0.00 |
0.00 |
-7,000.00 |
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|
|
|
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Total Staffing Costs |
131,500.00 |
139,000.00 |
217,500.00 |
91,000.00 |
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|
|
|
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Dollar savings of using Thomas over other method |
40,500.00 |
48,000.00 |
126,500.00 |
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Percentage savings of using Thomas over other method |
30.8% |
36.5% |
58.2% |
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"THE INNOVATOR IN ON-SITE STAFFING SERVICES"
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