Saving Money with Video Resumes…So Just How Many Benjamins Are We Talking About?
Saving money is only one of the incredible advantages that employers can enjoy by using Jobma’s video resume platform. Well of course a video resume website is going to say that! But where’s the evidence, right? Are we talking pennies or Benjamins? As I’ll show you shortly, this “selling point” is real, and the data that backs it up is incredible.
First, consider all of the steps in the hiring process that require company resources: advertisements, the time of the company’s recruiter and of the recruiter’s assistant, the time of the interviewer, drug screens, background checks, other pre-employment assessment tests, travel expenses associated with out-of-town interviews, and any other expenses that I’m missing. That’s quite the list!
As you can see in the infographic put together by GetHired.com, of which a portion is shown on your right, these stages come with quite the hefty price tag. First, it is estimated that the cost of one job post can range anywhere from $37.50 to $456.50, depending on where you choose to post your advertisement. Next, to review 250 resumes costs an estimated $587.50 and to pre-screen 16 of these candidates costs an estimated $100. And these are only the first three stages described by the infographic!
Fortunately, however, Jobma can help considerably cut the cost of these initial stages in the hiring process. First, posting a job advertisement on the Jobma website is free, which completely removes the first cost associated with hiring. Next, if we estimate that an employer can spend two minutes reviewing each resume instead of five, Jobma can reduce the cost to review 250 resumes from $587.50 to $200. Lastly, using video resumes allows employers to “meet” the candidate before the interview and, therefore, eliminates the need to pre-screen candidates.
Check out this table to see the grand total savings:
|
Without Jobma |
With Jobma |
|
| Cost to Post One Job |
$37.50 – $456.50 |
$0 |
| Cost to Review 250 Resumes |
$587.50 |
$200 |
| Cost to Pre-Screen 16 Candidates |
$100 |
$0 |
| TOTAL |
$725 – $1,144 |
$200 |
| SAVINGS |
$525 – $944 |
|
So to answer the initial question, we’re talking about anywhere from five to nine Benjamins per hire, assuming that you’re only looking at 250 resumes or less. Sounds like a worthwhile idea to me!
