The Cost of a Bad Hire [infographic]
Looking for the perfect candidate to fill an empty position within your company is no easy task. But if you don’t take the time to find the right hire, it can cost your company thousands of dollars. The infographic below from Kira Talent outlines how much a single bad hire can cost you.
According to the infographic, just one bad hire can cost a company more than $35,000. This happens for a variety of reasons — many employers report that they wanted to fill the position quickly, while some say there just wasn’t enough talent out there. Still other employers admit to never checking references. In fact, four out of 10 companies admit to bad hires.
Sometimes it can take a while before you realize you haven’t hired the right person, but there are a few telltale signs that your new hire isn’t a good fit. For example: they usually have a negative attitude, the work they produce isn’t up to your standards, they don’t meet deadlines, don’t work well with other members of the team and are often the cause of customer complaints.
A bad hire costs the company money right from the start, from recruitment, assessment and interviews to background checks and referral programs. Then, of course there is the cost of training said candidate, which can cost anywhere from $1,999 to $3,805.
Learn more about the costs of a bad hire in the infographic below.
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