Cost per Hire Calculator
The Cost per Hire Calculator helps companies determine their recruiting expenses—factoring in application volume, staff recruiting hours, HR salaries, advertising and agency fees, and new hire volume—to reveal the average cost per new employee (noting that in 2016 it was $4,425 and nearly $15,000 for C-suite hires) and identify potential savings from using an Applicant Tracking System.
The average cost per new hire in 2016 was $4,425. Hiring a C-suite executive can cost almost $15,000. When 15% of your HR expenses go to recruitment activities, it's important to make every dollar count.
Do you know what it costs your company to hire a new employee? This calculator will help you pinpoint your recruiting costs. Consider the following factors:
- Application Volume
- Staff Hours Spent on Recruiting
- HR Staff Salaries
- Job Posting Advertising Costs and Agency Fees
- New Hire Volume
This calculator will determine how much you could be saving by implementing an Applicant Tracking System (ATS) in your recruiting process.
Cost per Hire Calculator
- Number of Applications Received per Week
- Number of Hours Spent by Staff on Recruiting Activities per Week
- Average HR Staff Salary ($)
- Weekly Budget for Ad Listings, Agency Fees, Interview Travel, and Job Fair Costs ($)
- Average New Hires per Year
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The article explains that "time-to-fill" is a key recruitment metric measuring the average number of calendar days from job requisition approval or posting to a candidate accepting an offer, influenced by factors like role complexity, job market conditions, candidate quality, and hiring process structure, and is used by recruiters and HR professionals to optimize hiring efficiency and demonstrate recruiting effectiveness.
Cost per Hire Results
The report details your company's current average cost per hire—including labor costs for HR and recruitment efforts, third-party advertising expenses, and the hire rate percentage—and highlights potential annual savings through ApplicantStack by automating recruitment tasks and providing free access to popular job boards, thereby reducing both labor and advertising costs.