26th of August 2009 Author: Glo Wood
Betfair saves GBP1.65 million in two years by direct hiring and firing
According to a report in the HR Magazine.co.uk, online gambling group Betfair has saved GBP 1.65 million in attrition costs by ditching recruitment agencies, and hiring direct.
A partnership with capital management company True North has seen Betfair develop its careers website so applicants can join direct, the magazine reveals, quoting Betfair's head of recruitment, Dickson Moon.
The company now hires 86 percent of all new joiners direct - up from 40 percent 18 months ago. It has also discovered that directly hired candidates stay three times longer than those hired by agencies, with attrition levels falling below 20 percent as a result - for the first time in three years.
Betfair, which employs 1 800 staff, says the change was needed to attract better employees.
Moon told HR Magazine: "Betfair needs a recruitment and retention policy that is best in class and we provide this. In addition to recruitment activities we are coaching all line management in the use of assessment tools, interview training and offer management techniques.
"We are determined to find, recruit an keep all the best candidates in this market. The figures for the last year show this is working."
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