"Over the course of my career, I have found that measuring cost per hire and taking action on improving it can be extremely cost saving for an organization. By focusing on both internal and external recruiting costs like advertising, travel to recruitment fairs, recruiter time spent on a hire, referral bonuses, and interview costs, an organization can focus on putting their money to use in wise ways. I've tracked the effectiveness of different advertising campaigns to ensure we were getting the best returns for our dollars, and I've never hesitated to cut ties with methods that don't produce. It's also great for hiring managers to see hard data on the actual impact that turnover has on the overall bottom line of the organization."