How can I calculate my recruiting budget?

How can I calculate my recruiting budget? Well, to calculate your recruiting budget, first estimate your hiring needs.

Then the total of all internal costs (recruiter salaries, tech) and external costs (job ads, agencies, background checks, bonuses).

Now add them up, and divide by the number of hires to get your average Cost Per Hire (CPH).

Using past data and future goals for accuracy, plus adding a buffer for unexpected expenses.