Studies show some interesting stats.

A study conducted by Jim Riley (The cost of recruitment) on the 3 January 2012 states the average cost of hiring a new employee in the UK is around £5,300.

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John Philpott, chief economic advisor of the Chartered Institute of Personnel and Development, said he believes unemployment will peak at 8.8 per cent.

It has been predicted that there will be 2.85 million jobless workers by the end of the year before the figure rises by another 50,000 at the start of 2013. Due to recent public sector cutbacks will mean unemployment will remain above 2.5 million.

The ratio of job applicant to vacancy will certainly rise and will increase the pressures on businesses looking to identify the right talent but reducing cost impact of recruitment.

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