Cost Per Hire Calculator
This calculator helps HR professionals determine the cost per hire, allowing them to optimize their recruitment budgets and strategies.
Calculator
Results
Cost Per Hire
$0.00
Data Source and Methodology
All calculations are based on industry-standard formulas and data from authoritative sources such as HR organizations.
The Formula Explained
Cost Per Hire = \(\frac{\text{Total Recruitment Costs}}{\text{Number of Hires}}\)
Glossary of Terms
- Total Recruitment Costs: The sum of all expenses associated with recruiting new employees.
- Number of Hires: The total number of employees hired during the period.
Frequently Asked Questions (FAQ)
What expenses are included in total recruitment costs?
It includes advertising, agency fees, recruitment software, and staff time spent on recruitment.
Why is calculating cost per hire important?
It helps organizations evaluate the efficiency of their recruitment processes and optimize spending.