Within the HR space, we see all levels of professionals face the same challenges when it comes to finding talent and doing this cost-effectively.
From an entry level recruiter to the Director of Human Resources, everyone makes the choice to try new methods and new tools to make their recruitment quicker and bring down the cost per hire.
Of course, with those choices, comes risk!
“How do I know I can make the hire within a reasonable time frame, if I am paying for LinkedIn Recruiter?” and “What is the ROI if I pay this amount of money to Indeed?”
And of course,
“Do I calculate cost per hire based on actual hires? Or are there other methods to measure the ROI on my recruitment tools?”
These are all questions us HR professionals need to ask ourselves, as we evaluate the success of our hiring and the make decision to use a tool, long-term. And with that, HR Tech has advanced significantly over the years, making our metrics that much more complicated.
Since this territory comes with a lot of “what if’s?” and not as many guarantees as we like, here are our methods for considering cost-per-hire and how to avoid becoming “Penny Wise and Pound Foolish” with your recruitment. Continue reading “4 Methods to Determine Recruitment ROI”