Many HR departments don't have the resources that is, the hands and feet to collect the necessary data. Hiring costs represent a significant portion of HR expenditures, particularly when the effects of turnover are considered, according to SHRM's 1997 Survey of Human Resource Trends. Yet many HR professionals overlook those aspects of the hiring process to their detriment. The EMA model takes all of those costs into account.
External costs travel, lodging and entertainment, and salaries for other recruiters.
Direct fees advertising, job fairs, agency and executive search fees, cash awards for employee referrals, and college recruiting. The numbers tend to be within 5 percent of each other. The Saratoga method, for instance, doesn't take actual costs for other recruiters and administrative expenses into account, so its results may not be specific enough to satisfy some financial observers. And past models tended not to separate the dramatically different costs of filling executive positions and lower-level ones, he adds. CFOs and CEOs may have to demand such information for it to become a standard part of the process.