SHRM estimates the average cost per-hire at $4,129. The longer it takes to fill a position, the more time and money your organization will need to spend on the recruiting process. And if your new recruits don't stick around, then that cost multiplies as your fill a position repeatedly.
So what does it take to attract employees?
Carefully developing your pay and people practices helps you create a strong employer brand, one that helps you find the right people and keep them with your organization until they reach their full potential.
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