The cost-per-hire (CpH) statistic is used to calculate the overall cost of recruiting and hiring a new employee, which includes expenditures such as job listings, recruiter fees, and onboarding costs.
Example
An e-commerce business has hired a new software engineer. The firm spends $10,000 on job advertisements, recruiter fees, and hiring-related expenditures. The cost per hire for this post is $10,000.