Costs of relocation and how to spend it best
International hiring and relocation is an investment in talent
Time to hire costs vs. costs of relocation… Spend your money wisely
Relocation may be experienced as expensive and a significant risk
However, with the appropriate services provided, these costs can be effectively managed and kept within budget. This ensures that your international hire benefits fully from these services, facilitating a smooth transition and successful start and costs are managed.
An open job vacancy can result in financial loss for your business
In a tight market, the search for talent can become frustrating, with positions remaining unfilled for longer than expected. Expanding your search globally can help fill these roles more quickly, reducing operational costs and preventing overburdening your existing team. This approach generates a clear return on investment for the relocation expenses.
How to calculate your Return in Investment (ROI)
An open vacancy for an average Tech role, costs approximately €270 per day. With a typical time to hire ranging from 60 to 90 days. Consequently, each open vacancy incurs costs between €15,000 and €25,000 which significantly impacts the organization's growth.
In contrary, the average cost of a relocation is €7,000. Thus, the return on investment is realized in just 26 days after the start date of your international hire.