Cost to hire is a key metric of the recruitment process. It can tell a company how efficient it's recruitment process is working.
Cost to hire normally includes cost such as:
- Advertising costs
- Recruitment agency costs
- Interview costs
Cost to hire typically does not include the opportunity cost (lost) of a person not filling a role or vacancy.
Using a world class applicant tracking software tool such as Advorto you can effectively monitor and report on Cost to Hire across all your recruitment activities ensuring you have a valuable insight into the performance of your recruitment function.