How to Lower the Cost of Healthcare Recruitment

According to Undercover Recruiter, recruitment companies typically charge between 15-25% of a candidate’s first annual salary and can even ask for up to 50% for hard-to-fill or senior positions. Aside from this upfront recruiting payment, several indirect costs add to an already hefty bill.

When a role goes unfilled, your practice’s clinical duties and financial goals suffer. The longer the hiring process takes, the more time you spend away from core operations and the higher the loss of productivity. Even if you outsource your recruiting process, it still takes time out of your management team’s schedule to finalize a candidate. In business, especially in healthcare, time is valuable. Time and productivity loss are intangible, but they cost your practice nonetheless.

Hiring the wrong candidate results in significant financial and productivity repercussions. It not only means starting your recruitment and onboarding process again but also puts projects on hold, lowers employee morale, and minimizes productivity.

Recruitment cost is only a small portion of the total price of hiring a new employee. Additional costs include training, onboarding, benefits, and new equipment. Added together, it takes time for practices to break even and see a return on investment. According to Investopedia, a new hire reaches their full productivity only after 12 weeks.

With all these indirect, yet unavoidable, costs when hiring new employees, how can you minimize total recruitment expenses and maximize your investment?

Cutting upfront costs, reducing hire times, and choosing quality employees not only helps you minimize overall recruitment costs but also improves your ROI down the line.

We already know that outsourcing your recruitment process is more cost-effective than having an in-house team. Still, it’s vital to select a cost-effective recruitment agency as well. Most recruitment companies don’t know the intricacies of healthcare recruiting, leading to a more costly hiring process. To cover their costs, companies charge up to 25% per employee.

On the other hand, Nexus HR knows the ins and outs of healthcare recruitment, allowing us to keep costs at a minimum and only charge our clients 6-10% of a new hire’s salary. Nexus covers the entire recruitment process, from finding the right candidate to onboarding and training, at half the price of what other companies charge. With a large pool of candidates and an extensive database, we only shortlist the finest candidates that best fit your healthcare organization.

Don’t let high recruitment fees drag down your bottom line. Partner with NexusHR and see your practice grow.