What is Cost-per-Hire ?

‘Cost-per-Hire’ is the overall cost of hiring an employee for the company. It includes the costs associated with advertising the vacancy to hiring formalities, training of the new hire, other administration level costs, etc.

Every company strives to lower the cost per hire. However, it varies widely depending on the position being filled, the number of vacant positions available, advertising channels used for recruitment, the size of the company, etc.

One of the easiest methods companies apply to lower the cost-per-hire is incentivizing the existing employees for every new hire placed who were referred by them. Other options include making use of the social media channels as well as the website. Similarly, an effective HR software could also help lower the cost-per-hire significantly.

More HR Terms

Job Board

What is Job Board ?    ‘Job Board’ used to refer to a physical board on which vacant job positions used to be posted. However,

On Roll and Off Roll Payroll

Since an employee joins an organization, the payroll starts to count. Though the payroll models are created based on numerous employee job responsibilities, the term

Gross Misconduct

What is Gross Misconduct?   ‘Gross Misconduct’ refers to any major unethical behavior by an employee which would even result in them being dismissed immediately

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