What’s Your Cost-per-Hire?

Are you ready to learn exactly what you’re paying for each new hire? Use our cost-per-hire calculator to find out!

Your Cost per Hire Results

Results Sent!
Your detailed results PDF has been sent to your email. If you’re interested in exploring strategies to reduce hiring expenses, enhance candidate quality, or streamline your recruitment process, our team is available to assist you.

Cost Per Hire

Potential Per Hire Savings using Hire Velocity

Your Results at a Glance

The results you’ve received provide a snapshot of your current cost per hire. These figures help you see where you’re spending the most during your recruitment efforts and how you can improve the process.
Here’s a breakdown of the key categories:

Direct Costs: These are the visible, often tangible costs associated with hiring, including job advertising, background checks, recruiter fees, and onboarding expenses. These are relatively easy to measure and control.
Indirect Costs: These are the hidden costs that can be harder to calculate but are equally impactful. Indirect costs can include lost productivity, knowledge gaps left by departing employees, the time spent re-engaging with candidates, and the disruptions caused to teams while positions remain unfilled.

While indirect costs are often overlooked, they can have a substantial effect on your organization’s performance. Reducing these costs often involves refining your recruitment process and aligning better with both your team and candidate needs.

Why Your Cost per Hire Matters

High recruitment costs can directly impact your financial performance and hinder overall business growth. Key drivers of increased hiring expenses include:

Lengthy time-to-fill
Poor candidate alignment
High turnover rates
Inefficient processes

By streamlining your hiring processes, companies can reduce costs by up to 30%, all while enhancing candidate quality.

How to Reduce Your Cost per Hire

If you’re aiming to lower your cost per hire while attracting top-tier talent, the following strategies will help you optimize your recruitment efforts:

Refine Your Job Descriptions
Clear, precise job descriptions attract the right candidates and improve your chances of identifying qualified applicants. By focusing on the specific skills and experiences required, you can reduce the time spent reviewing unsuitable resumes and interviewing unqualified candidates.
Leverage Recruitment Marketing
Effective recruitment marketing can help you engage top talent early in the process. By promoting your employer brand and connecting with candidates before they apply, you can improve the quality of applicants and reduce the time spent sourcing talent. Tools such as social media, online advertisements, and employer branding campaigns can help attract the right audience.
Outsource Recruitment with RPO
Recruitment Process Outsourcing (RPO) offers the expertise of specialized recruitment teams to streamline your hiring process. Partnering with an RPO provider such as Hire Velocity allows you to reduce the burden on your internal team, speed up the hiring process, and lower recruitment costs. With the right RPO provider, you gain access to experienced professionals, advanced tools, and a faster path to top candidates.
Utilize Technology to Streamline Hiring
Implementing recruitment technologies such as an applicant tracking system (ATS) can reduce the manual tasks associated with recruitment. Automating time-consuming activities such as resume screening, interview scheduling, and candidate communication will not only save time but also improve cost efficiency.

A Full-Service Talent Acquisition and Professional Search Firm

At Hire Velocity, we specialize in providing top-tier talent strategy and recruitment process outsourcing services designed to transform your business. With our expertise in talent acquisition strategy, we help you find exceptional individuals who can steer your company toward long-term sustainable success. See what we offer.

Recruitment Process Outsourcing (RPO)

Custom recruiting strategy and soutions to attract and hire quality employees.

Our RPO services provide a scalable and flexible solution for your recruiting needs. We can manage the entire recruitment lifecycle or simply a portion of it. Our services include everything from sourcing and screening to onboarding and beyond. These services ensure you can focus on your core business activities.

Learn More About RPO

Professional Search

Solutions that identify exceptional talent and align with your objectives and goals.

For specialized or executive-level positions, our professional search services deliver targeted results. We utilize advanced search techniques and industry knowledge. That's how we find candidates who meet the job requirements and fit seamlessly into your company culture.

Start the Journey

Talent Advisory

Marketing services that reinforce employer brand while attracting top talent.

Our talent advisory services offer strategic insights and guidance. Together we'll work to optimize your recruiting processes. We help you develop a talent acquisition strategy that aligns with your business goals and ensures long-term success.

Explore the Possibilities

Managed Service Provider (MSP)

Recruitment process management by a third-party firm.

We streamline the hiring process by leveraging specialized expertise and technology to identify top talent efficiently. This reduces the administrative burden on engineering teams, allowing you to focus on core projects and innovation.