Cost Per Hire

Cost Per Hire is a metric that measures the total expenses associated with recruiting and hiring a new employee. This includes advertising job openings, interviewing candidates, background checks, recruiter fees, and onboarding costs. By calculating this, organizations can assess the efficiency of their hiring process and allocate resources more effectively. Essentially, it provides insight into how much is spent to bring a new person into the team, helping companies manage recruitment budgets and improve hiring strategies.