Free Software Helps Estimate Costs of Driver Recruiting
Spectrum Driver Recruiters has announced the availability of their new Driver Recruitment Cost Estimator, a free software tool that will help fleet operators calculate the total costs of recruiting drivers, including both the labor hours needed for screening applicants, and the outside costs.
Spectrum Driver Recruiters has announced the availability of their new Driver Recruitment CostEstimator, a free software tool that will help fleet operators calculatethe total costs of recruiting drivers, including both the labor hoursneeded for screening applicants, and the outside costs.
Estimated averages in the trucking industry indicate that approximately 100 respondents are needed to fill every open driver position. The total cost of the process is often not fully accounted for or acknowledged. Spectrum Driver Recruiters focuses on reducing the cost of processing the 99% of respondents who are not hired. Spectrum reduces both the hiring timeline and the associated processing labor by using their proprietary techniques coupled with their own national database of over 300,000 commercial truck drivers.
The Cost Estimator software uses a simple but comprehensive fill-in-the-blank format to identify and quantify all time and cost factors involved in the hiring process, to verify areas where cost reduction can be significant. For each parameter, an industry standard is shown as the default value; the user then adjusts the data based on their operation.
As an example, a company with a 1,000-driver fleet, with a 50% turnover rate, needs to hire 500 drivers per year. A planned increase in drivers could bring the total hiring target to 600 drivers, requiring about 60,000 respondents to fill these positions. Only half of the 60,000 respondents will complete an application (30,000), and about 40% of those will pre-qualify and will be phone screened (12,000). Only 25% of the screened respondents will meet the minimum hiring standards and qualify to be interviewed (3,000), and of those candidates, 20% will be hired (600). Along the way, tens of thousands of hours are expended reviewing resumes, screening applicants, performing background checks, and conducting interviews.
The Cost Estimator allows management to plug in their actual data, ratios and hourly labor costs, as well as outside costs such asadvertising, to determine total cost. Labor and cost factors for each step in the process are displayed in a spreadsheet format.
“The software calculates the total cost per hire, and more importantly, the total cost per non-hire,” said Ken Walker, Spectrum Driver Recruiters. “We developed it for our own use, but now want to make it more readily available to the transportation industry. Driver recruiting is our only business.”
Trucking industry professionals may request a free copy of the Spectrum Driver Recruitment Cost Estimator by visiting http://dev.mtsdm.com/request-form.html, or by calling toll-free 855.795.1100.
Founded in 2000, Spectrum Driver Recruiters (http://dev.mtsdm.com), based in Southfield, Michigan, serves the North American transportation community with specialized logistics-recruiting expertise, proven methodology, and a proprietary database of over 300,000 qualified commercial truck driver candidates. Improved hiring speed and a substantial reduction in overall driver recruitment costs and investment are the proven result.
SOURCE Spectrum Driver Recruiters