Cost Per Hire Calculator Apple Numbers Template is a Numbers Template for Mac users which helps us to calculate the cost of filling an empty position of any organization. These costs include advertising, recruiting and staffing etc borne by a company during the recruiting process.
Cost Per Hire or CPH is an HR metric used by Human resource professional to measure the effectiveness of the recruitment process.
Cost Per Hire = Direct Expenses + Indirect Expenses / Employees recruited.
Direct Expenses include the salaries of staff indulged in recruiting, other expenses incurred by recruiting staff, background and other checks for the job candidate.
Indirect Expenses include job portal fees, advertisement cost, Job fair expenses, and other costs related to job posting etc.
To simplify and ease the calculations of Cost Per hire, we have created a Cost Per Hire Calculator Apple Numbers Template with predefined formulas.
Just enter the applicable cost in the given cell and it will automatically calculate the CPH for you.
You can also download the Cost Per Hire Calculator in Microsoft Excel from the link below:
Let us discuss the contents of the template in detail.
Contents of Cost Per Hire Calculator Apple Numbers Template
This template consists of total 6 sections:
- Cost Per Hire Calculations (Summary)
- Advertising Costs
- Reviewing Costs
- Interviewing Costs
- Joining Costs
- Miscellaneous Costs
1. Cost Per Hire Calculations (Summary)
You don’t need to enter any data in this section as this section is auto-populated. It consists of the total of all the associated costs like advertising, reviewing, interviewing, joining and other miscellaneous expenses related to filling the job post.
2. Advertising Costs
Companies need to advertise through different media for the job post. All such expenses are included in this section. It includes newspapers, job portals, and other media.
Advt. Cost Per Candidate = Sum of all advertising expenses / no. of CVS received
3. Reviewing Costs
The advertising brings in a lot of CVS and then they are reviewed and shortlisted. This process also incurs manpower and expenses. The costs associated with this process are inserted in this section.
Reviewing Cost Per Candidate = No. of HR staff employed X No. of days X Cost per Day / No. candidates selected for the interview.
4. Interviewing Costs
The number of employees carrying out the interview process and all costs related to this are reported in this section.
Interviewing Cost Per Candidate = No. of interviewers X No. of days X Cost Per Day / No. of Candidates Selected.
5. Joining Costs
Each employee recruited by the company has to do some government paper works, medical examinations etc. These costs are borne by the company. All such costs are reported in this section.
Joining Cost Per Candidate = Medical Examination Expenses + Training Expenses + Other Expenses / No .of Candidates Recruited
6. Miscellaneous Costs
All the expenses other than the above mentioned 4 categories are reported in this section. These costs include background and reference checks on the recruited candidates.
Misc. Cost per Candidate = Background or reference check + Other Costs / No. of Candidates Recruited
CPH is usually calculated annually or quarterly. Type of recruitment like part-time, full-time, temporary or permanent should also be kept in mind while calculating CPH.
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