Cost Per Hire Calculator
Determine the financial efficiency of your recruitment process. This tool combines all hiring expenses to show you the average investment per successful hire.
What is Cost Per Hire?
Cost Per Hire is an HR metric that measures the average amount of money spent to recruit a new employee. It includes both internal and external costs.
What are external recruiting costs?
External costs include job board fees, recruitment agency commissions, career fair expenses, background checks, and travel costs for candidates.
What are internal recruiting costs?
Internal costs include the salary and benefits of the internal recruiting team, referral bonuses paid to existing employees, and any software used for tracking applicants (ATS).
How can I lower my cost per hire?
Strategies include improving your employer brand, building an internal talent pipeline, optimizing your referral program, and using data to identify the most effective job boards.