How Much Does it Really Cost to Hire Someone?

Many organizations consider cost of advertisements, materials, and salary of recruiters, but there are many other factors that inflate the true cost to hire an employee. The Cost Per Hire Calculator gives you a bottom line assessment of what it costs to hire an employee – one that includes hard and soft costs, apparent and hidden costs.

Background Information

 

Current State

1. FTEs in Position

2. Anticipated Monthly Hires

3. Average Annual Salary of Employees

4. Benefits/ Payroll Tax Costs (express as a %)

5. Average time to fill vacancies (weeks)

Sourcing/ Recruiting Costs

6. FTE Recruiters

7. Annual Salary of FTE Recruiters

8. Annual Expenditures on Job Boards

9. Annual Expenditures on Classified Ads

10. Annual Expenditures on Career Fairs/ Misc

Recruiting Process Costs

Hours

Salary of Person
Performing Task

11. Weekly time spent Sourcing resumes

12. Average Time Spent Reviewing 1 Resume

13. Average Time Spent per Phone Interview

14. Average Time Spent per Personal Interview

15. Average Manager Time Spent on Realistic Job Preview (or 2^nd Interview)

16. Average Time Spent Preparing One Offer

Quality Ratios

17. # of Resumes Reviewed per Phone Interview

18. # of Phone Interviews per Personal Interview

19. # of Personal Interviews per Realistic Job Preview (or 2^nd Interview)

20. # of Realistic Job Previews (or 2^nd Interview) per Offer Extended

21. % of Offers Accepted

Additional Screening Costs

22. Cost of One Background Check

23. Cost of Individual Skills Assessment

24. Cost of One Employment Verification

%25. Percent of Employees who Pass All Screens

Training/ Ramp-Up Costs

26. Orientation/ Training Materials Cost (per employee)

27. Total time (in weeks) spent in training during first year

$28. Instructor's Salary

29. FTE Instructors Dedicated to New Hires

30. Typical % of Productivity for New Hire after Initial Training

31. Time for new hire to be productive (weeks)

32. Avg Weekly Hours Manager Spends with New Hire during Ramp-Up

33. Avg. Annual Salary of Supervisors/ Mgr.

Contact Information

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