Estimate Your Cost Savings With the iPlace Cost Calculator
There are many internal and external costs associated with hiring. The total cost is often much larger than it seems!
- Salaries, incentives, commissions, and perks paid to the in-house recruiting and HR teams
- Hardware, infrastructure, and overhead costs
- Applicant tracking system, job boards, social media platforms, chatbots, software tools used for interviews, cognitive testing tools
- Referral bonuses paid to employees
- Paid job postings, social media advertising, job fairs, college recruitments, walk-in interviews/open house
- Referral bonuses paid to non-employees
- Retainer and placement fees paid to recruiting agencies
- Background and reference check fees
An exhaustive list of costs indeed! Calculating your annual hiring cost will help you identify ways to save money and improve cost-effectiveness.
Try the iPlace Cost Calculator to assess your annual hiring cost and estimate right away how much you can save.
iPlace Cost Calculator
Hiring Forecast for In-house Recruiters
How many in-house recruiters do you plan to hire?
What is the average annual salary (before commissions) that you expect to pay the recruiters?
How many placements per recruiter do you expect in the second month after hiring the recruiters?
What percentage of the placements are expected to be for contract positions?
What percentage of the placements are expected to be for direct hire positions?
What is the average hourly bill rate you expect for the contract placements?
What is the average hourly pay rate you expect for the contract placements?
What is the average contract duration (in months) you expect on the contract placements?
What is the average placement fee you expect on the direct hire placements?