Why is there not a movement within companies to stop spending so much on mass recruiting and interviewing? Doesnt it cost them thousands of dollars per candidate if they go through multiple rounds?
There's definitely a balance to strike, some companies would rather bring on everyone and find out who sinks and who swims, others hate firing and will do virtually anything to avoid hiring someone who needs to be let go.
if it cost them a few thousand dollars to expand pool so they hire someone 20% better then that seems worth it.
Referred employees outperformed non-referred.
Not in cash terms. The recruiters/interviewers' salaries are "sunk costs" anyway.