Nothing’s Changed: Bad Hires Can Still Cost Your Company $25–$50K.
Throwing money away is ill advised universally throughout the business world. So why do the same hiring mistakes get made all the time, costing companies $25-$50K (according to a CareerBuilder survey) each time they occur? We don’t know about you, but there are about a million things we’d rather spend that kind of money on than to recover from the ill effects of one bad hire.
We know why this happens. There can be:
- Pressure to fill a job opening quickly
- Not enough intelligence on the hire that was made
- Being overwhelmed by way too many applications
- Unchecked references
- Weak branding by the employer to attract the best applicants
Why do bad hires hit you so hard financially?
Bad hires are expensive because they affect so many different aspects of your business in critical ways. In the CareerBuilder survey, some of the main reasons given for why bad hires cost companies money included:
- Less productivity
- Lost time to recruit and train another worker
- Cost to recruit and train another worker
- Employee morale negatively affected
- Negative impact on clients
- Fewer sales
- Legal issues
Looking at all this, it’s no wonder why a growing number of savvy companies are seeking help with their pre-hiring and hiring processes. Learn more about myHR Partner’s Hiring Management Services by clicking here.
Use better hiring practices starting today!
Our “Hire Power: Six Steps for Hiring Great Talent” workshop will show you how.
- Interviewing skills
- Candidate evaluation techniques
- Overall hiring strategy
- Advertising and marketing techniques to attract the best candidate
- Knowledge to hire from start to finish in a legally compliant way
This 3-hour morning session also includes great takeaway tools:
- DOs and DON’Ts of interviewing guide
- Sample completed job description
- Sample completed job advertisement and job advertisement template
- Resume review tips and tricks
- A 3-hour small classroom interactive learning session to maximize your individual experience
- Certificate of completion