What are the real costs of talent recruitment?

Calculating hiring costs is challenging—hidden expenses and limited data can obscure the full picture. Go beyond surface-level hiring costs to reveal the direct and indirect costs of traditional methods vs AI-driven solutions.

See where you’re missing out on significant time and cost savings, and discover the impact of Turing’s AI-powered approach.

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With traditional recruitment, the numbers don’t add up

$4,700

is the average cost per hire in 2024—up 14% from 2019.

$4,219

is the average cost per vacancy before a new hire is found.

42 days

is the average time to hire a new candidate for a role.

50 hours

is the amount of time spent hiring for just one role.

There are a lot of reasons for rising costs

Manual work and administrative burden drain resources

Recruiters spend up to 50 active hours on each role, but manual processes and hidden inefficiencies inflate time andby 2–3 times.

High cost-per-hire is eating your budget

The average cost-per-hire is over $4,700, with inefficiencies in sourcing, screening, and interviewing adding thousands annually.

The unintended toll of lengthy processes

The average time to fill a role is 42 days while top candidates are only available for 10—and unfilled roles cost about $98 in lost productivity per day.

Bad hires are costly

A single bad hire can cost up to 30% of the employee’s first-year earnings (between $14,900 and $17,000), and 20% of new hires leave within 45 days, causing re-hiring cycles, disrupting team productivity, and doubling recruitment expenses.

Recruitment ROI is hard to quantify

Companies allocate 15% of HR expenses to recruitment, but less than half of talent acquisition leaders can accurately assess ROI.

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These costs affect recruiters, hiring managers, and HR leaders the most

HR professional or recruiter

Recruiters are spread thin, managing 30-40 open roles and spending 70% of their time on manual tasks like sourcing, screening, and scheduling.

Talent acquisition manager

Inflated timelines and misaligned priorities burden TA leaders, with 3 in 4 organizations struggling to recruit full-time employees and two-thirds facing challenges in budget approval.

CFO or CHRO

CFOs and CHROs prioritize cost optimization while facing growing pressure to attract and retain top talent. In 2024, 56% of executives are spending more time on talent management than in previous years.

Turing’s global talent solution saves you time and money

Discover the hidden cost saving at each stage in the hiring journey. Traditional recruitment methods often overlook expenses and inefficiencies that drain resources and budget. Turing’s AI-driven approach helps streamline these processes, offering substantial savings and optimizing hiring outcomes.

Start Hiring Now

Reduce administrative burden

Automate sourcing, screening, scheduling, and onboarding to save 30+ recruiter hours per role.

Optimize cost-per-hire

Match with pre-vetted, on-board ready candidates in days, reducing recruitment overhead and vacancy costs while accelerating new-hire productivity.

Improve hiring timelines

Turn job requirements into capable candidates and bypass costly bottlenecks.

Superior candidate matching & vetting

Improve hiring outcomes with access to the largest global network of fully-vetted, precision-matched candidates ready to interview (with detailed profiles).

Maximize recruitment ROI

Gain a competitive advantage in a tight labor market. Turing compounds time and cost savings by combining scalable, pre-vetted candidates with advanced automation, delivering long-term savings.

You can’t afford not to use Turing

Fewer active recruiter hours per role

No need to source or screen with pre-vetted, precision-matched, interview-ready candidates.

70% faster time-to-hire

Match with pre-vetted and onboard-ready candidates in 14 days or less (down from the 44 days industry average)

97% candidate alignment with precision matching

AI precision, transparent rates, and vigorous pre-vetting result in optimized candidate alignment.

Reduce costly recruitment inefficiencies at every stage

Each stage of the hiring process has pitfalls that can inflate costs without delivering better results. Discover where your recruitment dollars are slipping away and how AI can make a measurable difference.

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AI-driven role creation vs. traditional methods

Explore the cost of job creation and sourcing, and see how AI reduces these expenses through automation and data-driven targeting.

Streamline Sourcing

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Candidate matching & vetting with AI precision

Manual vetting and matching increase turnover risks and prolong hiring cycles—discover how AI precision slashes these costs while improving candidate alignment.

Improve Alignment

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Recruitment offer & onboarding cost optimization

Lengthy negotiations and onboarding delays disrupt productivity—see how AI streamlines new-hire success and accelerates the path to productivity.

Accelerate Onboarding

References

1- Balderson, Keelan. 2023. “35 AI Recruitment Statistics for Employers and Candidates.” MSPoweruser.
2- Blandford, Ainsley. n.d. “The Future of Recruiting 2024 I Hiring on LinkedIn.” LinkedIn. Accessed November 7, 2024.
3-Chen, Zhisheng. 2022. Collaboration among recruiters and artificial intelligence: removing human prejudices in employment.
4- Friedman, Gary D., Clifford Tatum, David Trone, Barney Hussey, Arun Subramaniyan, Marco Quiroz, Erin Prater, Brooke Seipel, and Chris Morris. 2023. “Artificial intelligence is increasingly being used to make workplace decisions–but human intelligence remains vital.” Fortune.
5- Harvard Business Review. n.d. “Transforming Talent Acquisition Through the Power of Automation and Artificial Intelligence.” Paradox. Accessed October, 2024.
6- HireDNA. 2022. “60% of Candidates Ditch the Application Because it’s Too Long or Complex: How to Simplify the Job Application Process.” HireDNA.
7- How Artificial Intelligence Cuts Down Recruitment Time.” 2024. Talent Management Institute.
8- “How long does it take to hire a Turing developer?” n.d. Help Center. Accessed 2024.
9- Human Resource Systems Group. 2020. “REPORT: The State of Job Descriptions Today.” State of Job Descriptions 2020.
10- Huptech HR Solutions and Rinku Thakkar. 2022. “Top 100 Hiring Statistics for 2022.” LinkedIn.
11- Kumar, Naveen. 2024. “AI Recruitment Statistics 2024 (Worldwide Data).” DemandSage.
12- “Leveraging ML for Effective Talent Matching: Whitepaper | Turing.” n.d. Turing. Accessed October, 2024.
13-“The Rise of AI in Recruitment: How Automation is Redefining Hiring Processes in 2024.” 2024. HireRush.
14- Rosales, IG. 2024. “Average Time To Hire By Industry (2024 Statistics).” Genius.
15- “7 Examples of Companies Successfully Using an AI Recruiting Platform.” 2024. Phenom.
16- Sharma, Anushree. n.d. “How AI reinvented hiring practice at L’Oréal.” People Matters. Accessed October, 2024.
17-“Top Candidates Are Gone Within 10 Days … So Assign Each a ‘Hire-By-Date.’” 2016.
18- “Using AI Tools to Hire for Potential.” 2024. HireVue.
19-Fazylova, Aida. 2024. “Benefits of Using AI in Recruitment - SSR.” SelectSoftware Reviews.

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1900 Embarcadero Road Palo Alto, CA, 94303

What are the real costs of talent recruitment?

With traditional recruitment, the numbers don’t add up

There are a lot of reasons for rising costs

These costs affect recruiters, hiring managers, and HR leaders the most

Turing’s global talent solution saves you time and money

You can’t afford not to use Turing

Reduce costly recruitment inefficiencies at every stage

Calculate the real cost of your recruitment (and find AI-optimized ROI)

References