The price of a bad hire has far-reaching consequences for your company. From the cost of recruitment and training to the disruption and lowering of employee morale, bad hires have a significant impact. Whether a bad hire results in loss of revenue, clients, or employees, you need to do all you can to avoid making the same mistake down the road. When you feel rushed to hire someone you may hire too quickly, resulting in an employee that may not be a great fit or a long term one. We can help to find the right people with the right skills to make the hire beneficial to you and them.
To avoid the negative impacts of a bad hire, turn to HW Staffing Solutions for your hiring needs.
The cost of a bad hire increases the higher in rank the role is. In addition to spending money on attracting and interviewing candidates, your company may cover travel, hotel, and food expenses for candidates of higher-ranking positions. Since top management is involved in the interviewing and hiring decisions, the costs for their time are even higher than for lower-level roles.
The salary paid to a bad hire is wasted. This is especially true if the employee’s work is of poor quality or remains unfinished. Your company needs to pay someone else to complete the work at the desired level. This may upset employees who have to pick up the slack. If they decide to leave, they take their skills, knowledge, and experience with them.
Training and Replacement Costs
Money spent training and replacing a bad hire has little or no return on investment. If the employee applied little or none of their learning to their work, they added little or no new value to your company. Hiring someone to replace the employee means additional wasted money. This amount is higher the greater the employee was in rank or the longer they worked for your organization.
Your organization’s reputation depends on the work being performed. A bad hire often shows poor decision-making skills that adversely affect your business’s reputation. Not hiring the right candidates reduces the positive feelings that current and potential clients and customers feel toward the organization. The adverse impacts increase the higher the employee ranks in the organization because of the increased responsibilities they carry.
A bad hire affects client satisfaction. Not completing quality work or meeting expectations results in dissatisfied clients. Other employees have to pick up the slack for the bad hire’s performance. This reduces employee morale, revenue, and the company’s reputation. Fewer clients want to do business with an organization with a poor reputation.
Trust HW Staffing Solutions with Your Hiring Needs
Trust HW Staffing Solutions with your hiring needs. Whether you need quickly deployable clerical/administrative talent, ready-to-work light industrial labor, skilled manufacturing operators, or experienced professionals, we can help. Partner with us today.