{
  "@type": "FAQPage",
  "mainEntity": [
    {
      "@type": "Question",
      "name": "What exactly is cost per hire, and why is it important?",
      "acceptedAnswer": {
        "@type": "Answer",
        "text": "Cost per hire (CPH) is the average amount spent on recruiting and onboarding each new employee. It's a crucial metric that helps organisations evaluate their recruitment efficiency, allocate resources effectively, and plan budgets accurately."
      }
    },
    {
      "@type": "Question",
      "name": "How do you calculate the cost per hire?",
      "acceptedAnswer": {
        "@type": "Answer",
        "text": "To calculate cost per hire, add all internal recruiting costs (e.g., recruiter salaries) and external costs (e.g., job board fees), then divide by the total number of hires in a specific period. The formula is: CPH = (Internal costs + External costs) ÷ Total number of hires."
      }
    },
    {
      "@type": "Question",
      "name": "What factors significantly influence the cost per hire?",
      "acceptedAnswer": {
        "@type": "Answer",
        "text": "Several factors impact cost per hire, including role complexity and seniority, industry-specific requirements, company size, hiring volume, geographic location, and market conditions. For instance, executive positions typically cost much more to fill than entry-level roles."
      }
    },
    {
      "@type": "Question",
      "name": "How can companies reduce their cost per hire without compromising quality?",
      "acceptedAnswer": {
        "@type": "Answer",
        "text": "Companies can optimise their cost per hire by streamlining the hiring process, leveraging employee referrals, using low-cost recruitment channels, investing in automation and applicant tracking systems (ATS), and improving onboarding to reduce turnover."
      }
    },
    {
      "@type": "Question",
      "name": "Why is tracking cost per hire important for businesses?",
      "acceptedAnswer": {
        "@type": "Answer",
        "text": "Tracking cost per hire helps businesses evaluate recruitment effectiveness, optimise spending, allocate resources efficiently, and make data-driven decisions about talent acquisition strategies. It also allows companies to benchmark their performance against industry standards and forecast future hiring expenses more accurately."
      }
    }
  ]
}