I was recently invited to address a gathering of circa 30 senior technology experts in Engineering, Hardware and / or Software at companies ranging in size from SME to international behemoth. The talk, which I entitled ‘The Recruitment Paradox’ was an insight into practical strategies to attract and retain the rarest and most talented technology professionals.
After the talk, I asked the group a simple question – ‘What is the value to your organisation of a good mid-level (say 8 years experience) engineer or SW developer?’ The answers ranged from £100,000 to £1,000,000, with an average of circa £350,000.
This got me thinking….if an engineer is worth £350,000 per annum, then having a requirement unfilled for 4 months represents a cost of nearly £120,000!
Now as a director of a growing company, I know that recruitment costs can sometimes be expensive. But given that we’re often able to fill roles for our clients within 4-6 weeks that have been vacant for 6 months, I’m now even more secure in my belief that we offer our clients excellent value for money.