Reducing Hiring Costs

Hires:     new hires  
The number of producers your company will hire this year.

Time spent with candidates:     hours  
The average number of hours spent evaluating candidates who are not hired. This includes time spent reviewing resumes, coordinating and conducting tests and interviews, and holding recruitment conversations.

Average cost of recruiting time:   $    per hour  
An estimate of the hourly cost of recruiters and hiring managers who spend time with unqualified candidates. An average cost for this factor might be $50 per hour.

Pass rate     %  
The expected percentage of applicants who will pass the employment test.

Assessment cost:   $     per candidate  
The increased cost per candidate from the use of screening or employment tests.

Selection ratio:     :1  
The number of candidates you typically assess/review to get one hire.