Cost-Per-Hire

Cost-per-hire is a metric that measures the total cost of hiring a new employee and divides it by the number of hires in a given period. It's also known as «recruitment cost per hire».

The cost-per-hire is the total cost of hiring a new employee. It includes all the expenses you incur during this process, such as:

• Hiring fees and background checks
• Interviewing candidates
• Training programs and materials

If you're interested in improving your hiring strategy or understanding how much money your company spends on each new hire, then understanding your cost-per-hire is essential.

How to calculate cost per hire? Here is the formula:

Cost Per Hire = ((Total Cost Of Recruiting) / (Number Of Hires)) * 100

Pros:

• It is a useful metric. It helps you understand the value of your hiring efforts, and it can be used to compare different hiring methods.
• This metric tells you how much money it costs to hire one person. 

Cons:

• The cost of the hire can be high, especially if you are hiring for a low-skill position. You may not be able to measure the value of the hire or the cost of it.
• You need to understand the costs and the value of your hiring efforts.