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For smaller firms, recruiting costs add up — Can social media solve the problem?

Written on Dec 01 2011

Interesting article out of the WSJ today. Turns out recruiting costs really add up for smaller firms that can’t compete with the scale of the big guys.

Companies with more than 10,000 employees world-wide pay a median figure of $1,949 per hire, compared with midsize companies, which pay $3,632, and small firms, which pay $3,665.

Because small and medium-sized organizations tend to have fewer dedicated recruitment employees, they often have to outsource hiring, which “can be very expensive,” says Josh Bersin, chief executive and president of Bersin & Associates.

Read more at the WSJ.

There’s another way small businesses are staying competitive however, and that’s with social media. Inc Magazine recently ran an article talking about the wealth of “free” information that can be found on social networks:

LinkedIn, Facebook, and Twitter have over 535 million combined users. That equals a lot of potential talent for your company. But how do you find the right person for the job you have available using social media?

Read more at Inc.

Social Times also ran a similar piece about the cost savings and advantages of recruiting over social media:

…points out a couple of great reasons to use social media.  For starters, you save money by steering clear of more expensive recruiting methods, but that’s not all.  Recruiting through social media also spreads brand awareness!

Read more at Social Times.

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