“Three years ago, a large corporation head office in Denver estimated their cost-per-hire at $5,500, which includes print advertising, agency fees, and relocation costs. Last year, after implementing an applicant tracking system (ATS), they reduced cost-per-hire to $1,600. With 1,700 positions filled annually, these reductions have added up to $6.6 million in savings.”
Time related to documenting information, duplicating tasks, filing, finding candidate information, or contacting candidates can all add up. By calculating the time in hours/dollars in managing these functions, your HR team can quickly determine if an applicant tracking system is going to save money for your organization. Most systems will pay back in time savings in as little as one to two months.
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