Yearly cost to perform reference checks:
*Number of reference checks multiplied by the hourly cost per recruiter.
Minimum savings of eliminating the manual process:
Hours saved for your recruitment team:
Number of bad & fraudulent hires avoided with Checkster:
Cost of replacing bad & fraudulent hires:
*Cost per hire (entered in the cost calculator) multiplied by the average number of bad & fraudulent hires detected by Checkster. Note that Bersin by Deloitte calculates the cost per hire at $3,500.
Number of passive candidates generated via Checkster:
*A passive candidate is a reference who opts-in to hear more about job opportunities.
Value of passive candidates collected and added:
*Number of average passive candidates collected via Checkster multiplied by the cost per passive candidate.
Savings with Checkster's Reference Checkup:
Business cost of bad hires:
*Number of poor quality candidates multiplied by the average cost of a bad hire entered in the cost calculator. Note that the Saratoga Institute calculates the business impact of a bad hire at 150% of the annual salary ($60,000). Average annual salary calculated at $40,000.
Business cost of fraudulent hires:
*Number of fraudulent candidates multiplied by the average cost of a bad hire entered in the cost calculator.
Checkster's Total Business Impact: