Ways to Manage (or Reduce) the Cost of New Hires

By Todd Miller on Sep 21, 2017

Finding, recruiting, and hiring a new employee can be surprisingly expensive. These costs don’t even take into account all the money you will invest in the employee after he or she is hired. The good news is that there are many ways you can control, and even reduce, all of the costs associated with finding the right new hire for your organization.

Topics: Cost Per Hire
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Webinar: A Deeper Look at Cost Per Hire

By Todd Miller on Sep 18, 2017

Adding new employees can be a great way to accelerate the growth of your business—if you can afford them. One of the factors that separates successful firms from chronically cash strapped ones is being able to properly calculate the cost of adding a new employee. Before you can know if now is the right time to invest in additional employees you have to calculate the cost per hire.

Topics: Cost Per Hire
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Issues to Consider When Calculating Cost Per Hire

By Todd Miller on Sep 14, 2017

Even with a standard formula, companies still have a lot of flexibility when deciding what needs to be included and what should be left out. Issues that a company must decide on when calculating CPH are:

  • How to calculate the salary costs of employees related to recruitment activities
  • Who should be included as a new hire?
  • What time period should be used for the calculation
Topics: Cost Per Hire
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How to Accurately Calculate Cost Per Hire

By Todd Miller on Sep 13, 2017

Prior to 2012, the ways firms calculated CPH varied significantly. Some calculations were much more accurate than others. The Society for Human Resource Management (SHRM) and the American National Standards Institute (ANSI) collaborated to develop a standard CPH formula.

Topics: Cost Per Hire
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What is the True Cost of Adding a New Employee?

By Todd Miller on Sep 12, 2017

 

 

Adding new employees can be a great way to accelerate the growth of your business—if you can afford them. One of the factors that separates successful firms from chronically cash strapped ones is being able to properly calculate the cost of adding a new employee. Before you can know if now is the right time to invest in additional employees you have to calculate the cost per hire.

Topics: HR Cost Per Hire
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