HR City

The Mammoth Costs of a Bad Hire

By SiliconIndia   |   Monday, October 8, 2012
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Bangalore: It’s high time for business organizations to be cautious while hiring new recruits. A bad hire can cost an organization a hefty amount of money and not to forget, it can have a negative impact on the company.

 “Lower employee morale and decreased productivity are the biggest consequences of bad hiring and promotion decisions,” according to The Right Management Group, the world’s largest career transition, outsourcing and organizational consulting firm.

Organizations should hire the right person and not just someone who can fill the vacant position as the cost of a bad hire are staggering. A survey published by Careerbuilder found that 41% of companies surveyed informed that a bad hire had cost then $25,000 in the last year. It was also found that 38% of the companies hired a bad employee just to fill the vacant position.

Jay Goltz, a small business expert and a blogger, identified some tips which can help an employer hire the right employee.
1.    Conduct Great Interviews
2.    Always Check References
3.    Give your Employee a Great First Day on the Job

Mindflash.com designed an infographic based on the survey by Careerbuilder. Let us have a look at the detailed report through this infographic.




 


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