by Maddy Marchildon, posted on February 14, 2011
The average cost of recruiting a new college graduate for a full-time position rose dramatically from 2009 to 2010, according to results of NACE’s 2010 Recruiting Benchmarks Survey.
The average cost-per-hire for a Class of 2010 new hire was $8,947—up approximately 57 percent from $5,708 in 2009.
The difference in number of hires from 2009 to 2010 accounts for much of that increase, according to Ed Koc, NACE director of research.
“Cost-per-hire is one of the most unstable benchmarks there is, due to the fact that the majority of total costs for a college recruiting program are in overhead for the operation of the office and are fixed, while the number of hires can fluctuate significantly from year to year,” he says.
NACE’s 2010 Recruiting Benchmarks Survey was conducted June 15 through August 15, 2010; 268 employer members, or 31 percent, took part.
Access highlights from the survey or learn how to get the full report by visiting http://www.naceweb.org/research_product/key_benchmarks_recruiting/.