The Baldwin's workforce complement will grow by 20% (rounded to the nearest person) next year. Ignoring downsizing from automating, what would their total recruiting cost be? Assume Baldwin spends the same amount extra above the $1,000 recruiting base as they did last year.
$510,000
$3,072,000
$425,000
$2,560,000
Answers
Answer:
__________$425,000________________
New Recruitment cost $ 570,000
GIVEN: Workforce to grow by 20 %
TO FIND: Cost of Recruiting.
SOLUTION:
As we know,
Cost of Recruitment refers to the total cost required for completing the process of searching, interviewing, hiring, onboarding, and training costs involved for a new employee that is expected to join the company as the workforce.
It is required to calculate the recruitment cost of the workforce to prepare the manpower budget and arrange the finances.
According to the question we are given,
Let us assume existing workforce Complement = $475
Let the amount spend on recruiting = $5,000
And,
Percentage by which Workforce needs to grow = 20%
Therefore,
New workforce after growing by the rate of 20% = 475*1.1 = 523
Newly recruited workforce = Existing Workforce - Newly Recruited
= 523- 475
= 95
So,
Cost of new recruitment workforce = 95*($5000+ $1000)
= $ 570,000
New Recruitment cost $ 570,000 .
#SPJ2
Chester's workforce complement will grow by 20% (rounded to the nearest person) next year. ignoring downsizing from automating, what would their total recruiting cost to be? assume Chester spends the same amount extra above the $1,000 recruiting base as they did last year.
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