Most businesses know what it costs them to turn the lights on each month or have enough printer paper. They know what it costs to ship their goods and cover payroll, but it’s surprising to hear that the majority of companies and hiring managers are unaware of their cost-per-hire. There are many factors that can affect your cost-per-hire. Just a few examples include the quality of the candidate, the interview and onboarding process, training time needed, tools and resources like job boards, trade shows and agencies.
Having a gauge on your cost-per-hire will allow your organization to make smart investments into your hiring strategies. Sourcing talented candidates, onboarding and everything in between is what we do, and we are experts in the skill sets and industries we serve. If you have questions about your company’s cost-per-hire or hiring process and ways to improve it, please reach out to one of our many talent advisory consultants here at DAVIS, we’re here to help scale your business.
In addition, here is a link to an interactive website that sheds more light on the cost-per-hire: http://www.costofahire.com/cost-hire.php