chitkara Started The Discussion:
Hi all, Can any one guide me on the calculation one need to do to calculate the cost of recruitment. Regards, Bhanu
from ur enquiry i came to know that u r in need of calculating the costs of recruitment. it starts with the accounts of buying stationary items for recruitment to the cost of medical checkup before issuing appointment letter. to share ur views or further information u can mail me.
with thanks & regards,
This is a very open question, Are you looking at cost per hire ? or How to calculate Recruitment budget for a year?
Calculation of Cost per hire:-
Say if you want to know the cost per hire from Jan 07 to June 07 then you have to take following things into consideration.
* Consultant Charges
* Travel charges incurred for an outstation event.
* Relocation Expenses
* Joining bonus
* Retainership fees for vendors
* Cost incurrred for jobportals (Jobsahead, Monster and Naukri)
* Cost of Posters and banners.
* Promotions cost (Print and Internet medium)
* Other expenses incurred directly for Recruitment.
Total of All expenses above/No of joinees from Jan to June= Cost per hire.
* Consultant Charges : 100000
* Travel charges incurred for an outstation event.:60000
* Relocation Expenses:200000
* Joining bonus :200000
* Retainership fees for vendors :100000
* Cost incurrred for jobportals (Jobsahead, Monster and Naukri) :300000
* Cost of Posters and banners.:100000
* Promotions cost (Print and Internet medium):40000
* Other expenses incurred directly for Recruitment.:50000
**Total no of joinees in this period: 80
then, Total cost incurred : Rs.1050000/-
Cost per hire :Rs 1050000/60= Rs.13125/-
I hope this suffice you.
Hi Satish Thank u for such an useful calculation.
Can u Plz tell me, what's these two term is all about??
1. Relocation Expenses
2. Relationship fee for vendors.
and can u plz tell me which department maintain all these factors?? and who calculate the actual cost per employee?
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