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Dear Ali,
As far as i know to calculate your recruitment cost you need to take into each and every cost you incure for getting a new recruit...
For example :
If you recruit a new employee from a consultant then the cost is what you pay to the consultant.
If you recruit a new employee through referal scheme then the cost is what you pay to your employee.
If any further clarification required then let us know.
Cheers,
Anisha
From India, Mumbai
As far as i know to calculate your recruitment cost you need to take into each and every cost you incure for getting a new recruit...
For example :
If you recruit a new employee from a consultant then the cost is what you pay to the consultant.
If you recruit a new employee through referal scheme then the cost is what you pay to your employee.
If any further clarification required then let us know.
Cheers,
Anisha
From India, Mumbai
Hi Ali find enclosed the excel sheet for calculating Recruitment Cost. This is what we use for our cost ananlysis. regards, Veena Jain
From India, Bangalore
From India, Bangalore
Hi,
While doing recruitment cost u should keep in mind the proposed budget & the actual budget used. The parameters will reman the same as Veena has mentioned in her excel. If you keep the proposed & actual budget spent in mind then u could also calculate how cost effectively the HR is conducting their recruitment. This will ensure the management about the efficiency.
Also calculate the no of days in which u closed the position. Supposing ur objective is to close the position in 20 days & u actually closed it in 12 days so u saved 8 working days which is a saving of mandays used. This will also ensure the efficiency of the HR. The man days used in filling up is an indirect cost to recruitment. So u should ensure u keep this in mind.
Regards,
Pooja
From India, Pune
While doing recruitment cost u should keep in mind the proposed budget & the actual budget used. The parameters will reman the same as Veena has mentioned in her excel. If you keep the proposed & actual budget spent in mind then u could also calculate how cost effectively the HR is conducting their recruitment. This will ensure the management about the efficiency.
Also calculate the no of days in which u closed the position. Supposing ur objective is to close the position in 20 days & u actually closed it in 12 days so u saved 8 working days which is a saving of mandays used. This will also ensure the efficiency of the HR. The man days used in filling up is an indirect cost to recruitment. So u should ensure u keep this in mind.
Regards,
Pooja
From India, Pune
Hi Ali,
Recruitment Cost would be the sum total of all the expenses incurred while hiring eg Consultant's Fees, Print Ad Charges, Payment under Referral Scheme, Travel Related Reimbursements etc.
Tracking of recruitment cost through various sources of recruitment and comparing with results/responses helps tremendously in chalking out Recruitment Mix Strategy.
At the end of the day, everyone looks for speediest recruitment at the lowest expenses.
Hope this helps.
Tx,
Rajesh
From India, Mumbai
Recruitment Cost would be the sum total of all the expenses incurred while hiring eg Consultant's Fees, Print Ad Charges, Payment under Referral Scheme, Travel Related Reimbursements etc.
Tracking of recruitment cost through various sources of recruitment and comparing with results/responses helps tremendously in chalking out Recruitment Mix Strategy.
At the end of the day, everyone looks for speediest recruitment at the lowest expenses.
Hope this helps.
Tx,
Rajesh
From India, Mumbai
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Recruitment Cost Analysis.xls