Question

The cost to lay off an employee is what percent of the hiring cost for that level?

Answer 1

The cost to lay off an employee is what percent of the hiring cost for that level is 30-50 percent.

What is the cost of hiring?

Finding the ideal employee can be expensive in and of itself. Business consultant Bill Bliss, president of Bliss & Associates Inc., claims that the hiring process alone might have a number of high potential expenses.

These include the time spent advertising the position, the time spent by an internal recruiter, the time spent by the recruiter's assistant reviewing resumes and carrying out other tasks related to recruitment, the time spent by the person conducting the interviews, the time spent on drug tests and background checks, and the cost of various pre-employment assessment tests. Even a $8/hour employee might wind up costing a business $3,500 in turnover expenses, both direct and indirect. Not every new hiring will require the same procedure.

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