While the cost of hiring an employee (or replacing a lost employee) can vary, there are some decent studies that indicate a general range. For example, The Society of Human Resource Management indicates that a cost per hire range for a single employee can be as much as $4,129 and this includes recruitment as well as training expenses. (https://www.shrm.org/about-shrm/press-room/press-releases/pages/human-capital-benchmarking-report.aspx). However, the cost to replace an employee may be higher, ranging from 50% to 150% of an annual salary for the departing entry level to mid-level employee due to lost productivity, to as much as 400% of the annual salary for a specialist or executive level employee. (https://www.eremedia.com/tlnt/what-was-leadership-thinking-the-shockingly-high-cost-of-employee-turnover/) A bad hire can be much more costly because it poses a risk to the business, as well as potential long-term legal fees.
Depends on the type of employee that you are going to hire. If you want to hire someone who is going to work for you as a part-time that simply means less pay. But if you want to hire for an important role, the cost is higher. Let's assume for example that you are hiring a manager so that means you are hiring someone for a great role and to manage other people. You need to pay him/her better and the cost simply is up but remember don't put it too high to make the employee feel that he/she is needed and he can't be replaced. All depends on the turnover, and what he/she is going to produce and give you.
Akmal Yousuf, CEO