Cost-Per-Hire refers to the total cost incurred in hiring a new employee to the company. It includes expenses of the recruitment process, equipment, travel costs, administrative costs, and benefits. Cost-Per-Hire is an efficiency metric, and it measures the total cost a company spends to hire a new employee. It is calculated using:
Cost-Per-Hire = (cost of internal recruiting + cost of external recruiting)/ total no of hires in the given time.
