
HR Trends
Whether you're a beginner or an expert, you will find this Glossary useful.
Cost per hire is one of the most important metrics in recruitment. Cost per hire measures how much it costs a company to fill an open job position. It includes all the cost associated with filling a position, such as advertising expenses, recruiting events costs, recruitment software fees, relocation expenses, etc.
According to an American National Standard for calculating cost-per-hire, in order to calculate the average cost per hire, you should follow 2 steps:
Thus, cost per hire includes all the cost associated with filling a position, whether internal (such as employee referral incentives, recruitment software fees, etc.) or external (such as advertising expenses, recruiting events costs, relocation expenses, etc.).
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