There are several cost items which are distributed across various budget holders and hence the organization does not have a cohesive view of the overall financial impact. Then there are several hidden costs such as those attributable to the time consumed by the business in interviews and other forms of assessment which do not get counted. As always, there are exceptions and it would be great to hear the experiences of organizations that have "figured this out" or have been grappling with specific challenges.
Related Tags: recruitment, hiring, talent, budget, assessment
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But looking at the present tussle for getting good talent - Idea recruiting (recruitment through events other than conventional assessment methodologies), employer branding, referrals, professional networking, online interviewing and related fields can prove helpful in bringing the talent acquisition cost down and reducing the ad hoc approach to a large extent.