The first step to better recruiting is to understand what it is costing you. And recruiting a new team member costs far more than you might think. Both internal and external activities affect your cost-per-hire. This ratio, the total dollars spent for sourcing, recruiting and staffing for the total number of hires during a specific time period, is an essential metric.
Figuring out your cost-per-hire by hand can be cumbersome, however. With this in mind, we have developed a simple resource to help you calculate your cost-per-hire and better understand your recruiting budget needs. Our cost-per-hire spreadsheet shows all of the inputs you need to quickly calculate your cost per hire, and you can download it now.
Fill out this form to download your free Cost-Per-Hire Calculator spreadsheet to understand your total cost to hire.