Cost Per Hire Calculator
Cost Per Hire
Calculate the total cost of hiring a new employee including recruitment, onboarding, and training expenses
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Formula
Cost Per Hire = Recruiting Costs + Interview Costs + Onboarding Costs; Total = Cost Per Hire + Productivity Loss
Frequently Asked Questions
What is the average cost per hire?
According to SHRM, the average cost per hire is approximately $4,700. However, for executive and specialized positions, the cost can reach 50 to 100 percent of the annual salary when all expenses are included.
How can I reduce cost per hire?
Reduce hiring costs by building an employee referral program, maintaining a talent pipeline, using social media recruiting, improving employer branding, and reducing time-to-fill through streamlined interview processes.
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