The cost of a bad hire extends to more than an organization’s bottom line, and it’s a risk easily avoided with proper qualification strategies in place during the recruitment process.
Recruiting, hiring and training new employees is arguably one of the most critical aspects to an organization’s success, and the cost of selecting and onboarding the wrong candidate is an expensive one — about 30 per cent of an employee’s first year salary. Yet, the true cost of a bad hire can extend to affecting company morale, security and privacy, culture and employer branding.
To avoid the frustration and cost of a bad hire, it’s important to take turnover into consideration: Why is it happening?
In today’s tight, candidate driven labor market, it’s increasingly difficult to get the right person in the right place at the right time. Yet, when it’s a race to fill roles and complete projects, unqualified talent has a tendency to slip through the cracks – and it all starts with their resumes.