If you’re reading this blog, odds are you already know about Glassdoor. It’s the website that helps you find and recruit great candidates, allows you to share information about your employer brand — your values, goals and awards — and lets employees boast about your perks, benefits and why others employees should want to work there. But did you know that using Glassdoor and all its offerings also helps your bottom line — literally?
As you already know, a job search is expensive. On average, it costs £3,000 per hire to find a new employee in the UK. But money isn’t the only cost associated with the perfect candidate: Research shows it will take, on average, 27.5 days to interview and hire a candidate — and once you do, you’re looking at a 19 percent turnover rate.
Glassdoor cuts those costs — both the financial costs and the more intangible costs of conducting a job search. Glassdoor candidates are more likely to be hired than job candidates you might find on other sites because they have done their research ahead of time. As a result, they are highly engaged, have the right expectations and are more likely to be a good fit for the job. Furthermore, 88 percent of our users are actively looking for jobs or open to new opportunities, 90 percent have a university degree, one in four have post-grad qualifications and 78 percent of UK candidates have at least two years of experience. Altogether, these high-quality candidates mean you don’t have to go searching through as many resumes to find the right fit.
[Learn more: What is The Informed Candidate?]
You’re more likely to retain candidates found on Glassdoor, too. Because Glassdoor’s job seekers apply to roles with reasonable expectations, you can expect a higher retention rate. (And considering that it costs companies about 33 percent of an employee’s salary to backfill the role, that leads to big potential savings.)
Another benefit to making sure you’re hiring candidates who intend to stay? Happy, long-term employees lead to higher Glassdoor ratings — and even a one-star improvement in your Glassdoor rating can lead to a one percent higher annual financial return on company assets, plus increased stock portfolio returns of up to 16 percent per year. And that is good for your bottom line!