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The real cost of a hire is recruitment cost plus the productivity foregone while they ramp. Modelling ramp as an average between early and full productivity gives a defensible estimate, and the break-even figure explains why early attrition is so expensive.
Lost productivity
Lost = Weekly salary cost x Ramp weeks x (1 - Average ramp productivity)
Total cost
Total = Lost productivity + Recruitment and onboarding cost
Domain complexity, systems access, the quality of documentation and whether there is a dedicated buddy. Well-run onboarding routinely halves ramp time.
That a leaver in the first six months costs roughly the whole investment with no return, which is why the first ninety days deserve disproportionate attention.