Ted Hickman

The Huge Cost of Bad Hires — And How to Stop It

It can be quite challenging to overcome a reputation of having not-so-good employees. The reality gets worse as you realize this reputation is tainting your ability to attract new quality talent to your firm. Potential hires may perceive the company as a revolving door rather than a welcoming environment for career advancement.

In the US, the average cost-per-hire is about $4,000. What steps can you take to ensure that your company doesn’t hire the wrong people? Your chances of making the wrong hire can be significantly decreased by devoting time and money to the hiring process. Instead of hurrying to fill a position, giving yourself plenty of time to locate the ideal fit will help you find the best candidate. having a written, standardized hiring procedure run by someone you trust is essential. The interview process should revolve around the tenants of behavioral interviewing with proper assessment tools for the specific job.

For more on the costs of a bad hire and how to create a standardized hiring process that can save you time, energy and money, check out the resource below.

What Are Bad Hires Really Costing Your Business? from Torch Group, a C-level Recruiting Firm

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