Costs of Hiring

Find your company's true cost of hiring. This formula assumes you need only one recruitment ad to find the right talent and you're the only interviewer. If more advertising or resources are involved, you need to increase your multipliers/hours to find a closer approximation of your hiring expenses.

Please enter: Your annual salary $:  your hourly rate = $0

COSTS

Ad cost for 1X only.

Internet $:

Newspaper $:

Ad copywriting and placement.   hour(s).

Resume review: responses @ minutes / resume = 20.8 hours.

Assemble candidate list.   hour(s).

Phone pre-screening: calls @ minutes each = 2.0 hours.

Time to organize interviews.   hour(s).

Interviews: 6 interviews @ hour(s) each = 6.0 hours.

Reference and employment history check.   hour(s).

YOUR TOTAL COSTS (1):  $0.00

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OTHER MISCELLANEOUS COSTS
Because recruiting activities often mention your company name, phone number and Web address, you should then assume:

50 phone calls to main phone number.   hour(s).

Receptionist time with candidate resumes.   hour(s).

Interview questions prep-time.   hour(s).

Arrange Round 2 of interviews.   hour(s).

Interview finalists: candidates @ hour(s) each = 3.0 hours.

Miscellaneous time expenditure.   hour(s).

Calls to interviewed candidates: 6 calls @ minutes each = 1.5 hours.

Letters to candidates not hired.   hour(s).

Stationary and postage: 249 candidates @ dollars each = $747.00.

MISCELLANEOUS TOTAL COSTS (2):  $747.00

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TOTAL COMPANY COSTS

	Total Costs (1):	$0.00
	Total Costs (2):	$747.00
	Grand Total:	$747.00

TOTAL HOURS RECRUITING:  46.3