What Is The Real Cost Of One Bad Hire?
It isn't the cost of a bad hire that counts. It is all of the missed cost savings by a great hire that counts.
A bad hire is costly, especially if you add up all of the hidden costs. Most companies just add up the direct costs.
If this isn't high enough, then add in all of the indirect costs, and most companies will go into shock.
These additional costs have to be avoided.
As the leader of the company, once you realize the true cost of a bad hire and the benefits of a great hire, you might reconsider the importance of ensuring your company has an effective, systematic, structured, and repeatable process with highly skilled people.
If your stomach is strong enough, and you are sitting down, our cost of a bad hire worksheet will help you determine the real cost of a bad hire.
On a positive note -
Money saved is money earned.
Once you know the true costs, you can then set out to reduce these costs and make money.
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