DOES RECRUITEX SAVE YOU TIME & MONEY?
A CASE STUDY FROM ONE OF OUR FRANCHISORS
This following statistics come directly from the Recruitex platform and covers the period 1 January to 31 December 2023
Number of applicants that registered on the Recruitex platform showing interest in this franchise: 95
Number of applicants that filled out their full details and profile: 58
Number of applicants completing the assessments on the Recruitex platform: 18
Number of applicants that the Franchisor needed to spent quality time on: 18
Amount of time the Franchisor needed to spend on these 18 pre qualified applicants: ± 108 hours
Amount of time the Franchisor would have needed to spend without Recruitex: ± 304 hours
Estimated time saved by the Franchisor by using Recruitex's services: minimum 196 hours
At a conservative R500 per hour, the money saved by using Recruitex is: ± R98,000
At our top subscription, how much did this Franchisor spend with Recruitex? R42,000
Amount of money wasted if this Franchisor had not used the services of Recruitex: R56,000
Assumptions used in these calculations:
1. The processing time that the Franchisor's team will need to take in order to work a new lead is about 1 to 3 hours. In these calculations above I have used 2 hours. The tasks needed to be done are most likely to be:
- Making contact with the person - probably telephonically or via e-mail
- Conducting an initial interview over the phone
- Establishing whether the applicant is serious about taking up the Franchise on offer
- Trying to ascertain whether this person will be a good fit in the Franchise
2. The activities the Franchisor's team will most probably need to do, once the applicant has passed through stage 1:
- Conducting a more in-depth interview over the phone
- Making sure that this person will be a good fit in their Franchise
- Asking the person to fill out a Franchise-specific application document, collecting all their details
- Checking through this application form
- Getting the person to do some sort of test / assessment / answer a bunch of questions, then reviewing these
- Getting the person to send in all his / her documents, such as proof of identity, proof of residence, bank statements, balance sheet, income and expenditure sheet, proof of funds, police clearance, etc.
- Scrutinizing each of these documents to check their congruency
- Doing all the credit checks and vetting the person's credibility, affordability and the quality of their investment
- Back and forth phone calls to verify the information sent, or to ask for further information
- A face-to-face interview
3. Using the Recruitex system, the time spent on the 2nd list of activities - to read through each persons entrepreneurial inclination assessment, to read through all the applicant's paper work and documents (that have already been checked and prepared by Recruitex) and to look at the credit checks performed, then finally, to interview the person - is estimated to be between 4 and 8 hours. I have used 6 hours for the above calculations