Previous

Page - 17

2.The cost of the internal recruiter's time to understand the position requirements, develop and implement a sourcing strategy, review candidates backgrounds, prepare for interviews, conduct interviews, prepare candidate assessments, conduct reference checks, make the employment offer and notify unsuccessful candidates.
3.The cost of the various candidate pre-employment tests to help assess a candidates' skills, abilities, aptitude, attitude, values and behaviors.

Training Costs

1. The cost of orientation in terms of the new person's salary, cost of the person who conducts the orientation and also the cost of orientation materials.
2. The cost of departmental training which average 3-4 weeks in duration.
3. The cost of the person(s) who conduct the training.
4. The cost of various training materials needed including company or product manuals, computer or other technology equipment used in the delivery of training.

Lost Productivity Costs

As the new employee is learning the new job, the company policies and practices, etc. they are not fully productive. Also new employees have a learning curve depending upon the type of work. While traveling along the curve, they add costs of supervision and mistakes.

Next

* Contributed by -
Ankur Pawa & Nishant Choudhary,
Indian Institute of Management,
Lucknow.