Recruitment teams in the US and UK are constantly looking for ways to optimize their hiring spend and improve the quality of hires. Tracking job board ROI is essential to ensure your recruitment budget is being spent effectively.
With this calculator, you can compare the performance of different job boards and other recruitment channels by evaluating cost per hire, time to fill, and conversion rates. This allows you to prioritize high-performing platforms and eliminate underperforming ones in your hiring strategy.
How the calculation works
The Job Board ROI Calculator uses standard HR metrics to determine the effectiveness of each recruitment channel. The core formula is:
ROI = (Value of Hires - Cost of Hiring) / Cost of Hiring
Where:
- Value of Hires is based on the estimated salary of new hires and their expected productivity or tenure
- Cost of Hiring includes the fees paid to the job board, time spent by recruiters, and agency fees (if applicable)
Additional metrics such as cost per hire and time to fill are also calculated to give a full picture of performance. These values help you compare recruitment channels and make informed decisions about where to allocate your budget.
How to use this calculator
- Select the recruitment channels you want to compare (e.g. LinkedIn, Indeed, Glassdoor, internal referrals).
- Enter the number of hires made through each channel.
- Input the total cost of each channel, including fees and recruiter time.
- Estimate the average salary or value of hires from each channel.
- Click 'Calculate' to see the ROI and other performance metrics.
- Review the results to identify top-performing channels and optimize your recruitment strategy.