Cost per hire

The costs linked to recruiting talent. These costs can include advertising, agency fees, relocation costs, and training costs.

The calculated cost-per-hire varies widely depending on the size of the company, how many recruitment channels are used, the seniority of the position and the efficiency of the organization.

Reducing costs is a constant process for HR departments. It involves a range of strategies from changing to a less expensive recruitment agency, promoting current employees to find suitbale candidates and making use of the company's existing channels. In onboarding any new employee, there are always expenses that must be factored in, finding the most cost-effective approach to this can save companies significant amounts. Establishing a recruiting budget is a great way to limit expenditure and fill the role without overspending.