Cost-Per-Hire

Refers to the total cost of recruiting and onboarding a candidate into the company, inclusive of (but not limited to) covering travel and stay costs, administrative costs, equipment, advertisement costs, etc.

Employee retention should be part of the organisation’s strategy to retain key talent, reduce turnover and its related costs, such as hiring and inductions. Any employee retention program developed by the company should be continuously evaluated to determine its effectiveness and to identify opportunities for improving it.