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Average cost-per-hire is about $4,100, SHRM says

August 03, 2016

The average cost-per-hire is about $4,100, and the average time it takes to fill a position is 42 days, according to the new Human Capital Benchmarking Report from the Society for Human Resource Management.

Findings in the report came from an analysis of data collected from 2,048 respondents.

In addition to cost-per-hire and time-to-fill, other findings in the report included:

  • Average employee tenure is eight years.
  • Annual turnover rate is 19%, and the involuntary turnover rate is 8%.
  • The percent of employers offering tuition reimbursement is 61%. The average maximum reimbursement for tuition/education expenses last year was approximately $4,000.
  • The average annual salary increase was 2.7% each year. The average target bonus percentage for nonexecutives was 4.7% compared with 10.2% for executives.
  • An average of 66% of employers participated in a 401(k) or similar plan.
  • 34% of firms had a succession plan.

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