Are small companies bearing a greater burden than large companies when attempting to recruit new hires? According to this report in today’s Wall Street Journal, the answer is a resounding yes. The Journal explains that companies with more than 10,000 employees world-wide pay a median figure of $1,949 per hire. Mid-size companies come in at $3,632 per hire, and small firms pay $3,665, two figures that are nearly twice as much as expansive businesses.
The report, which pulls its figures from Bersin and Associates’ 2011 Talent and Acquisition Factbook, continues to say that the manufacturing sector leads the way in the most money per hire: $6,443. Healthcare is the most affordable, coming in at an average of $2,127 per hire.
The results are intriguing, and reinforce a oft-heralded point. While smaller companies may have to invest more initially, they stand to lose more by making the wrong hire. Larger firms may be able to absorb an HR blunder or two, but small and mid-size firms need to be even more refined in their process based on these figures. The process needs to be as exhaustive as possible to distinguish between any hire and the right hire. And social channels could be a way to solve that puzzle.
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