Cost per Hire (figuring your actual cost to hire an employee)
Take a look at your department budget of last year and add the following costs/expenses:
| Advertising | __________________ |
| Agency Fees | +_________________ |
| Job Fairs | +_________________ |
| Internal referral bonuses | +_________________ |
| College recruiter | +_________________ |
| Candidate travel reimbursement | +_________________ |
| Special projects i.e.; billboards, etc. | +_________________ |
| Testing costs | +_________________ |
| Relocation | +_________________ |
| Credential verification | +_________________ |
| Temp. fill pending hire | +_________________ |
| Direct cost of company recruiting Staff; salaries, space, overhead |
+_________________ |
| =_________________ |
To fing your total: divide by the total number of people hired last year is your Cost per Hire.
In today's Candidate driven market, it is crucial that the employer is as prepared for the hiring process as is the candidate. Below we have added some important information to help you, the hiring manager, succeed in selecting the best and brightest talent for your company. Feel free to contact us with any questions or for additional information.
1) What Candidates are looking for in a new Company
2) Nine Pitfalls of Employment Interviews
3) Cost per Hire (figuring your actual cost to hire an employee)
4) Counter-Offer Counter Measures
For additional information on interviewing, and career search methods I highly recommend a book called: Knock em Dead and Knock em Dead Resumes, written by Martin Yate.