What is the cost per hire?
- Cost per hire is the number of resources consumed in recruiting an employee to your company. This does not include recruiting costs externally like background checks, marketing expenditure, job boards and job sourcing.
- When calculating the cost per hire it is key as it can provide you with smarter hiring cost decisions and allow your company to save the organisations money.
- Not having a cost per hire calculation you will not be able to accurately measure and have feedback on your report of the efforts in pursuit of talent.
What you can do with your hiring cost data?
- Cost per hire allows you to gain information for a better picture of the best advertising outlets that work for your company.
- It helps you to analyse the recruitment cost by the department and the job type.