It is a metric organizations use to calculate the cost of hiring a new employee. It includes all the expenses incurred during the recruitment process, such as advertising, job fairs, recruiter fees, background checks, and relocation costs. The formula for calculating CPH is CPH = (Total Recruitment Costs / Total Number of Hires). By tracking CPH, organizations can analyze recruitment expenses and identify areas to reduce costs. It also helps them evaluate their recruitment strategies' effectiveness and make data-driven decisions to improve their hiring process.
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