The Calculation
The Potential Saving per Hire and the Potential Annual Saving results show the amount we estimate Hiring Hub could save per agency hire and cumulatively across the hires made in the year, based on the figures you entered.
These calculations factor in time savings we estimate the platform can introduce via reduced CV review and filtering, fewer recruitment agency calls and management time and a reduction in the length of the interview process conducted per role.
They also take into account the average time-to-hire on the Hiring Hub platform, which can reduce the impact of the employee revenue lost while a role remains vacant. For more details on the market assumptions and Hiring Hub statistics used, please see the assumptions section below.
Core Assumptions:
When designing this calculator, we have used a set of core market assumptions gathered from published industry sources, our own experience in the recruitment industry, and statistics from the Hiring Hub platform that when combined, create the cost-per-hire calculation.
Below we have listed the assumptions and statistics for full transparency. We will update the calculator as these market assumptions and statistics change.
Calculator Last updated: May 2024.
Market Assumptions
- Average annual salary of a Talent Acquisition/HR professional: £35,000.
- Average annual salary of a Hiring Manager: £45,000 (The hiring manager in this instance, is the person looking for a candidate to fill a role in their team).
- Salary of agency hire: £35,000. (This is the salary of the candidate hired in our example and used with the agency fee level to make the calculation.)
- Talent Acquisition/HR cost per hour: £16.83. (The hourly cost of a talent and HR professional in our example).
- Hiring Manager cost per hour: £21.63. (The hourly cost of a Hiring Manager in our example).
- Working days per annum: 260.
- Working hours per annum: 2,080.
- Average revenue per employee per day: Annual revenue divided by employee number, multiplied by 100,000. This figure is then divided by the number of working days to produce a daily average revenue per employee.
- Average number of CVs per vacancy: 20.
- Average time spent filtering each CV: 15 mins.
- Average candidates taken to interview: 30%.
- Average interview length: 1 hour.
- Average time-to-hire: 44 days (Based on the 2023 Global Talent Climate report).
- Number of recruitment agency calls per annum: 260.
- Time spent on each agency recruitment call: 15 mins.
Hiring Hub Statistics
- Average number of CVs per vacancy: 5.5 (2024 platform statistics).
- Average time-to-hire: 26 days (2024 platform statistics).
- Average candidates taken to interview: 25% (2024 platform statistics).
- Average recruiter fee on the platform: 15% (2024 platform statistics).
