Survey Reveals How Much Bad Hires Cost You

Marcianne Kuethen

May 27, 2013

It’s no surprise that a bad hire costs your company in hours of lost productivity, decreased morale, damage to client relationships, and missed sales opportunities. But how much would you guess a bad hire may cost you?

New research from CareerBuilder and EMSI reveals that “27 percent of U.S. employers say a bad hire costs the company more than $50,000.” Ouch! That’s enough to make any hiring manager hesitate before making another hire.

When it comes to avoiding hiring mistakes, employers said they were taking longer to extend offers while they assess whether a candidate really is the best fit for the job and their company culture: however, employers who want to expedite the hiring process – without sacrificing quality – may want to consider working with a staffing and recruiting firm. Even if resources are tight, working with a quality firm can eliminate the costs and labor-intensive hours of finding the right hire. Staffing and recruiting firms also offer freedom and flexibility to “try before you buy” candidates as contract, temporary or part-time workers before taking them on full-time.

Are budget concerns holding you back from investing in Amtec’s talent search services? If so, you may want to weigh the cost of making a bad hire against the lesser amount you’ll invest in acquiring an expert recruiter to hire right. But even if you don’t utilize our service, please take advantage of our numerous blog articles on the hiring process, written just to help you succeed. As your staffing partner, we want to help you make a good hire every time! Just search “hiring process,” or check out some of my favorites here:

Selecting Winners – Part 1

Pointing the Way to Job Success: Designing Effective Orientation Programs

The Telephone Screen: Filter Candidates Objectively

Reference Checks: Digging for the Truth