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Plan Cost for Hire Assessment

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Plan Cost for Hire Assessment

Category: Case Study

Subcategory: Human Resources

Level: College

Pages: 1

Words: 275

Plan Cost for Hire Assessment
Name
Institution

Plan Cost for Hire Assessment
Great Cups of Coffee (GC3) like any other company needs to consider various factors such as advertising for the vacancy, interviewing, payment for the human resource staff, and the training. All these elements need money and therefore add to the general cost of hiring. Doing the cost assessment associated with these elements will help determine their impact on the entire firm. It is also essential to determine the waste on the bad hire or the amount saved through smart hire or if employees are retained. From the research, however, it is estimated that highly an entry level employee is approximately 20 percent of what they earn (HIRE Talent, 2016). This is true even to an employee making minimal earning when they leave; they are likely to attract about $3,500 cost on the hire.
In considering all these essential factors, the cost of hire in Great Cups of Coffee (GC3) will first involve the cost associated with the training program per associate. This cost involves trainees’ payment of their minimum wage per hour for approximately 6 hours when the training last. In Ohio this cost at $8.10 min which translates to $243.00. Similarly, the trainers also need to be paid at $1.00 more per hour and if paid for 6 hours at $1 then the total cost will $18.00. The other cost has a trainer shadow trainee for a single shift which adds $1 to what the trainer is paid that is approximatley$10.50 and for 6 …

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