Skillit, a software development company, has unveiled its new cost calculator for skilled labour recruitment for construction companies.
Dubbed the Skillit Cost Calculator, the new tool is designed to provide a standardised method for evaluating the cost-per-hire for companies.
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The launch is expected to prove useful as the construction industry grapples with a significant shortage of skilled workers.
The calculator leverages a combination of respondent inputs, proprietary labour market data, and industry standards to deliver a comprehensive cost analysis.
It examines key factors such as hiring practices, recruitment rates, and the use of various sourcing channels.
It also takes into account the information on recruiting staff and allows respondents to input additional details such as annual turnover, staffing agency fees, employee salaries, and overall labour costs.
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By GlobalDataSkillit CEO and founder Fraser Patterson said: “The unfortunate reality is that most companies do not know what their fully-baked sourcing and recruiting costs are either at a high level or on a per-hire basis. This is especially true in construction.
“The Skillit Cost Calculator is our approach to enable recruiters, hiring managers and construction firms in general the ability to measure and compare their efforts, creating standardisation for sourcing and recruiting in the industry.”
With a data-driven approach, the tool aims to bring transparency and uniformity to the hiring process within the construction sector.
For users who may not have detailed information on hand or prefer to keep such data private, the calculator offers an alternative by allowing them to use industry norms to fill these advanced inputs.
Patterson added: “By collecting just a few data points, we can illuminate the real cost-per-hire in construction and also provide a framework by which to compare it to other firms.
“By taxonomising craft workers’ skills, experience, goals and so much more through our skills-based platform, we’re bringing the entire process from sourcing to recruiting online, ultimately saving everyone time and money.”
