What is the significance of cost-per-hire in financial reporting for HR?
- It has no impact on financial reporting
- It helps in assessing the efficiency of the hiring process
- It is a measure of employee productivity
- It is only relevant for large organizations
Cost-per-hire is significant in financial reporting for HR as it helps assess the efficiency of the hiring process. Calculating this metric provides insights into the expenses associated with bringing new talent on board, aiding in budgeting and resource allocation.
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