Recruiting Platform Artemis Launches ROI Calculator
Recruiting technology firm Artemis has launched a new Hiring ROI Calculator for enterprise clients. The tool aims to expose hidden costs associated with recruiting, such as productivity loss from open roles and the financial impact of employee turnover. This allows firms to better evaluate the total cost and benefit of using platforms versus traditional headhunting services.
- The battle for early talent is intensifying, with private equity firms like Apollo and KKR now recruiting undergraduates directly and extending offers with start dates two to three years in advance, creating direct competition with the traditional investment banking pipeline. - As a result of the scramble for talent, major banks like JPMorgan are tightening policies, requiring junior analysts to disclose private equity offers and, in some cases, enforcing longer three-year analyst programs to improve retention. - While the average cost-per-hire in the banking and financial services sector is approximately $4,300, the cost for specialized technical or executive roles can range from $15,000 to over $30,000. - Talent acquisition leaders are increasingly prioritizing data-driven recruitment, with 79% of UK financial services employers expecting to struggle to find skilled talent in 2025 and 93% of U.S. hiring managers already facing challenges. - To improve ROI, university recruiting teams are narrowing their focus, with the average number of "core" target schools dropping from 39 in 2020 to 25 in 2024 as budgets tighten and executives demand more accountability. - Beyond traditional finance skills, firms are prioritizing candidates with expertise in technology, data analytics, and AI, as these capabilities become crucial for areas like regulatory reporting and fraud detection. - The recruitment timeline has accelerated significantly, with investment banks and other financial firms now beginning their recruitment processes as early as a student's sophomore year of college. - The definition of recruitment ROI now extends beyond cost-per-hire to include metrics like the quality of hire, new hire retention rates, and the time it takes for a new employee to reach full productivity.
