Cost per Hire
This PDF report includes benchmarking data (in a visual, chart-based format), an comprehensive KPI definition, characteristics of high performers and technical details on measuring Cost per Hire. Purchase and download this easy-to-understand, presentation-ready report immediately to compare performance levels, set attainable performance targets, and push towards best-in-class performance for this KPI.
What is Cost per Hire?
The total cost of recruiting and hiring (labor, job postings, travel costs, etc.) for all open positions (front-line or entry-level staff, managers, directors and executives) divided by the total number of positions filled over the same period of time.
Why should Cost per Hire be measured?
Cost per Hire measures the average recruiting expense required to attract, screen and hire a candidate for a single open position within the company. A higher than average value for this KPI is typically associated with inefficient, and potentially ineffective recruiting and hiring processes; poorly written job requisitions, ineffective candidate screening and improper allocation of costs within the hiring process (e.g., too much spent on marketing job positions through ineffective channels, etc.) can contribute to bloated costs in this area. Excessive hiring costs may indicate that job requisitions are staying open for a long period of time, which impacts organizational capacity, and may also potentially affect work quality, productivity and service levels within certain functional areas that are under-staffed.
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