Average Cost to Recruit per Job Position
Money
Quantifies the expenses incurred in the recruitment process for a specific role, taking into account advertisements, recruiter fees, interview costs, and more.
It's vital for budgeting and determining the ROI of various recruitment strategies. If costs are too high for a particular role, it might necessitate a strategy shift.
Formula
(Total recruitment costs for a position / Number of hires for that position)
Example
An average expense of $5,000 to recruit for a managerial role.