1. Human Resources
  2. Recruitment & Onboarding

Actual vs. Budgeted Cost of Hire


Compares the actual cost of hiring new employees to the budgeted or projected cost. It allows HR departments to assess their efficiency in the hiring process and adjust future budgets based on past spending. Discrepancies can lead to refining recruitment strategies or reallocating budget.


Actual Cost of Hire - Budgeted Cost of Hire


If the actual cost of hire is $10,000 and the budgeted amount was $8,000, the discrepancy is $2,000.