Q. What are the costs of reneges?
It can be hugely expensive – and extremely disruptive in terms of time and money. Recruitment requires careful planning and the whole process can involve hundreds of hours. This is time spent scanning applications, and interviewing people before sending out job offers and rejecting unsuccessful candidates. This is before organising onboarding setting up systems and investing in training.
You may still be eligible to pay recruitment fees if an employee does renege, although some contracts will include clauses regarding candidates who leave (or are dismissed) early on in their employment. As with all contracts, the devil is in the details and it’s always worth checking.
We’ve created a free online calculator that takes factors such as the cost per hire and the percentage of candidates who are reneging into consideration to provide you with costs. The calculator also shows you the value generated by implementing a high-impact engagement strategy that maximises candidate conversion by using our award-winning mentoring software.
To access our Renege Calculator, click here.