The High Cost Of Hiring Badly

John Brandon writes on employment issues for Inc magazine and a recent column quantifies the exorbitant cost of making a bad hiring decision. Sometimes the hiring manager is overly impressed in an initial interview, sometimes a position needs to be filled so quickly that normal processes are suspended, or sometimes it is just a desire to move on other pressing matters. Whatever the reason(s), the resulting decision that “didn’t work out” can cost your company nearly a quarter-million dollars for even a mid-level mistake! Add in factors such as legal fees, severance pay, and/or outplacement services and the cost is over $800,000. If this is scary, read this article and slow down just a bit! Following a process that yields the best quality candidate is a sure way to get what you need AND save money in the long-run.

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