What Is the Cost of a Bad Hire for a Business?

Hiring Mistakes to Avoid

According to a CareerBuilder survey, 75 percent of employers have hired the wrong person. Unfortunately, the impact of a bad hire on the business can be far and wide, including:

  • Loss of morale among employees
  • Additional supervision required
  • Lost productivity and revenue
  • Impacted client relationships

And the real financial cost of all of these affects? CareerBuilder says it’s approximately $17,000 on average in just one year.

What Is a Bad Hire?

It may not take long for a company to realize they’ve onboarded the wrong person. While many factors contribute to an employee being labeled a bad hire, some of the most common signs include:

  • A bad attitude
  • Qualifications that aren’t suited for the job
  • Inability to work with coworkers
  • Poor quality work
  • Absenteeism
  • Personality mismatch

Improve Your Recruitment Process

If you’re planning to bring on more employees, hiring talent that fits with your organization can be a challenge. To make your decisions, you’ll need to go beyond a candidate’s resume today. While there’s no guarantee that you’ll avoid a poor fit, several steps can help reduce your chances, including:

  • Clearly define the job’s role and responsibilities
  • Set realistic expectations
  • Vet adequately
  • Trust your gut

To prevent the wrong person from impacting your bottom line, learn the top 10 hiring mistakes to avoid.

See the Top Ten Hiring Mistakes to Avoid

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