Have you ever wondered how much it costs to recruit a new programmer? The numbers may surprise you.
The most common cost of recruiting a developer which comes to mind is a recruitment agency fee, but it’s just a starter. In the IT world, where there is a talent shortage, hiring a new programmer (or any tech talent) increases in cost and effort as time goes on. The better a programmer is, the more expensive it gets. The best ones are like superstars with their own agents. Employee turnover is a huge problem for most companies and long-time employment is almost unreal. According to the 2015 Recruiter Survey, the average employee tenure is below 6 years; 30% of people change their job in 1-3 years and 29% in 4-6 years. Quarsh’s research gives even more dreadful numbers – 20% of new hires leave in 12 months!
Even with low turn-over you need to be prepared for recruitment costs. These studies show that 79% of the workforce keep their resumes up-to-date and 63% have updated their LinkedIn profile just in case. Are you sure your employees won’t quit on you?
(Score: 1) by DmT on Sunday January 01 2017, @07:37PM
But why dont you make your own company? That way you can consentrate on the intangible stuff and see how you measure against the others who focus on money ...
(Score: 2) by Common Joe on Sunday January 01 2017, @08:38PM
No, that's ok. I'm better as a team player instead of a loner in the business world.
Besides, when I focus on the intangible, I am focusing on money. I'm just looking at something that can't easily be measured [wikipedia.org] in the short term, but can easily be felt after everything goes belly up.