Magnum Staffing

Cost Per Hire

The first step in calculating your cost per hire is to determine the total you spend, including dedicated staff costs to search, screen, process applications, interview and perform verifications to identify and hire the staff you need. This cost is then allocated to the number of employees you actually hire.

The worksheet below will calculate your estimated cost per hire based on the data you provide.

* ENTER TOTAL ANNUAL COSTS
Total Salary/Wage + burden of department or group responsible for the hiring process	$
Percentage of above attributed to personnel hiring only	%
Media ad expenses	$
Background check expenses	$
Drug screen expenses	$
SS# and other verification expenses	$
Number of people hired

Direct Hiring Cost:	$
Total Costs Attributed to Hiring:	$
Cost Per Hire:	$
* Total does not include indirect expenses such as space, equipment, supplies, etc. – all of which increase the cost.

When Magnum Staffing provides you with the employees you need, your cost per hire will typically be less than $1,500. This total is based on a 90-day period during which Magnum is the employer before you decide to hire. Not only does this reduce costs, but you experience the individual's performance before you decide to hire.