ISO/TS 30407:2017 pdf download – Human resource management — Cost-Per-Hire

02-21-2022 comment

ISO/TS 30407:2017 pdf download – Human resource management — Cost-Per-Hire.
3.5 Hire-Cost-Ratio HCR formula and methodology comparing the Cost-Per-Hire (3.1) against the total compensation of the newly hired people Note 1 to entry: This formula varies from Cost-Per-Hire Internal (3.3) or Cost-Per-Hire Comparable (3.2) only in the denominator; whereas Cost-Per-Hire Internal or Cost-Per-Hire Comparable are ratios of costs to the number of hires, the Hire-Cost-Ratio is a ratio of costs to total first-year annual compensation of the new hires. 3.6 internal cost factor internal cost expense related to the internal staff, capital and organizational costs of the recruitment (3.9)/staffing function 3.7 system of record information system considered to be the source for a specific piece of information to be used in a Cost- Per-Hire (3.1) metric 3.8 compiler individual responsible for the creation of a Cost-Per-Hire (3.1) metric 3.9 recruitment process of sourcing, attracting, assessing and employing talent for an existing or new position within the organization 4 Cost-Per-Hire Internal (CPHI) 4.1 Formula The Cost-Per-Hire Internal (CPHI) metric is designed to measure the costs associated with recruitment activities borne by an employer to fill an open position in the organization. CPH is a ratio of the total dollars expended (in both external and internal costs) to the total number of hires in a specified time period. The CPHI formula may be used by any organization that wishes to measure CPH using a standard methodology. This measure does not require all organizations that adopt it to include a specific set of external or internal costs in order to measure CPH. Different organizations may require different cost factors internally to operate their business.
4.2 Cost data in scope (the numerator) The data used in a CPH metric is bounded by activities related to the sourcing, recruiting and staffing costs (whether external or internal) incurred to hire a candidate to work as an employee in an open position. Data in scope may include, but are not limited to, the data described in Tables 2 and 3. For the CPHI formula, it is best to use all of the factors listed in Tables 2 and 3. However, the use of any of these metrics is acceptable and should occur when applicable to an organization. NOTE It is important that the CPH calculation has a high degree of data quality; this is a lower data quality level than is used for financial reporting.
4.3 Total number of hires in a time period (the denominator) 4.3.1 General The denominator of the CPH equation should be the sum total of the hires that occurred in the time period being measured. Within an organization, there may be several systems that could potentially track the number of hires in a time period. The compiler of the CPH metric should select a system of record to consistently report on these data. The total number of hires variable is subject to the same data collection methodology requirements as cost data. 4.3.2? Defining? which? types? of? hires? to? include? in? CPHI For the CPHI, as an internal metric, the compiler of the metric may use organizational discretion on which types of hires are appropriate to include in a CPH calculation. NOTE 1 The CPHC metric does not afford this type of discretion. The following is provided as a recommendation of the hires to include and exclude in the calculation of CPHI.

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