The use of metrics, analysis and business intelligence has been on the rise in the human resources and talent acquisition spaces for some time. However, the ability to standardize within the human resource function has been limited. Recently, the Society of Human Resource Management (SHRM) has set forth an initiative to standardize any number of measures and metrics across the human resource spectrum.

The first standard that has been accepted by the American National Standard Institute is specific to talent acquisition, and is a standard regarding Cost-Per-Hire.

The use of metrics, analysis and business intelligence has been on the rise in the human resources and talent acquisition spaces for some time. However, the ability to standardize within the human resource function has been limited. Recently, the Society of Human Resource Management (SHRM) has set forth an initiative to standardize any number of measures and metrics across the human resource spectrum.

The first standard that has been accepted by the American National Standard Institute is specific to talent acquisition, and is a standard regarding Cost-Per-Hire.

During the session, the associate project manager for the Cost-Per-Hire initiative, Andrew Gadomski, will be reviewing the different formulas that you can use to measure yourself internally and also measure your organization and its CPH versus other organizations. The standard is more than simply one formula: it is actually a methodology. Andrew will review the Cost-Per-Hire comparable formula, the Cost-Per-Hire internal formula, and the recruiting cost ratio. The Cost-Per-Hire comparable presents a standard numerator and denominator that all organizations can use so they can compare apples to apples. The CPH internal allows organizations to add or subtract variables in the formula so it can measure Cost-Per-Hire with a unique value proposition for its business. The recruiting cost ratio makes a comparison of the cost of the employee versus the recruiting costs associated with that employee.

When all three formulas are brought to bear, they not only standardize communication and measurement within Cost-Per-Hire, but enable a practical discussion about resources to acquire talent as part of a competitive strategy.

Worksheet
Cost Per Hire

04/17/2012 1:30 pm o'clock

04/17/2012 2:30 pm o'clock

Andrew Gadomski

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