Bad Hires Cost Companies $50,000 Apiece [infographic]
How much does a bad hire actually cost companies? Nearly half of companies think that each bad hire costs at least $25,000, but one-fourth said that each actually cost them over $50,000, according to research from Vitamin T. This zombie-themed infographic outlines some of the costs bad hires rack up, including lost business, salary, benefits, recruiting, training and even legal action.
It isn’t just poor performance that can make a bad hire costly. Such employees can poison other employees and take down team morale with a bad attitude or poor work ethic, cannibalizing others’ productivity by increasing their workload. There’s also the business a poor employee can frighten away, and the costs businesses incur while onboarding the employee.
Other costs can pile up even after the bad hire has separated from the company, like severance, discrimination suits and unemployment benefits. Check out the full infographic below — are you surprised by the statistical breakdown?
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(Photo credit: Mashable)