You might want to sit down for this. According to a recent survey by Career Builder
, the average cost of a single bad hire is close to $15,000. And there’s more bad news. Bad hires can also cause a fallout of negative behaviors.
“Disengagement is contagious — Poor performers lower the bar for other workers on their teams, and their bad habits spread throughout the organization," said Rosemary Haefner, Chief Human Resources Officer at CareerBuilder.
Nearly 75 percent of employers surveyed admitted to taking on the wrong person and reported that their businesses and bottom line were negatively affected by less productivity, lost time in recruiting and training, and compromised work quality.
While 29 percent of those polled said they had a hard time finding qualified candidates, another 10 percent reported they felt they lacked adequate tools to find the right person.
Haefner said, “The best thing hiring managers can do is put in the time and effort on the front end to make sure they have the best available pool of applicants for every job opening. And, just as importantly, have good procedures in place for evaluating candidates."