The full cost of recruitment includes costs paid to third parties such as the recruitment fee, advertising, assessment paid to a search and selection firm but also internal costs that are not always understood fully. These internal costs include internal time, mainly: deciding that a new post/replacement is needed, design of job spec/person spec/package, internal interview time, decision time, cost of covering an empty post with interims, cost of repeating the recruitment exercise if the new hire does not work out etc..
Has a study been published on this in the UK (or elswhere) that would give meaningful statistics. For example, the internal costs amount to circa 35% of salary and external costs circa 30% of salary….
Any help gratefully received.
John Toppin