In recent years, layoffs have increased as companies struggle to find skilled candidates who meet role requirements. Many employees were let go for failing to keep up with new tools and technologies. To cut costs while maintaining quality, businesses are turning to outsourcing staffing services. However, recruiting the right candidate is challenging, and retaining them is another hurdle. Studies show hiring a new employee costs between $4,000 and $20,000, excluding salary and benefits. A Harvard Business Review survey found that 95% of businesses prioritize hiring and retention.
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