The scary inefficiencies of recruiting
The more the MindSumo team explores the recruiting space, the more we are shocked at how inefficient it is. We’ve all experienced the exaggerated resumes, the fake cover letters, and the manipulative interviews that don’t even give companies a clear picture of what candidates are really like. Here are some of the terrifying numbers that illustrate the problem we’re trying to solve-
$8,947- the average cost per hire in 2010
29- the average number of career fairs attended per company in 2010
66% of managers have expressed regret about making hires based on interviews
46% of new hires are fired or quit within 18 months
One of the most interesting facts is that a company’s ability to predict candidate quality increases by 37-40% when there is a sample of that person’s work. How about a MindSumo challenge???