The cost per hire is calculated by dividing the total recruitment cost by the number of hires. The formula is:
Cost per hire = Total recruitment cost ÷ Number of hires.
Given: Total recruitment cost = $200,000, Number of hires = 50.
Cost per hire = $200,000 ÷ 50 = $4,000.
The average recruitment timeline (100 days) is not relevant to this calculation. Thus, the cost per hire is $4,000. This metric is commonly used in HR to evaluate recruitment efficiency.
[Reference: aPHRi knowledge domain – Recruitment and Selection: Calculating recruitment metrics, such as cost per hire., , ]
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