Few problems can bulldoze a company faster than a bad hire. Hiring someone who doesn’t fit with your workplace culture, who doesn’t have the skills and talents that you expected them to, or who simply doesn’t do a good job. Such a person can negatively affect your productivity, your team morale, your bottom line and spread their negative vibes through your entire organization like wildfire.
Here are just three ways that bad hires can have a negative impact upon your business:
A CareerBuilder study found that 69% of employers had a bad hire adversely affect their business within the last year. The study found that 41% of those businesses estimated that the cost of their bad hire was over $25,000. Another 24% said that the bad hire cost them more than $50,000.
2. Lost time.
Hiring people isn’t a quick and easy task. It takes a lot of time and manpower to go through a huge stack of resumes (or a digital stack) and find the right person for a job. And once you’ve hired someone after perhaps a month of interviewing, it can take another six months to fully integrate the person into their new job and have them performing fully. If the person doesn’t deliver what’s expected of them, that’s six months that you just lost training and integrating a new employee.
3. Negative impact on the team.
A new hire may have the right skills and the right attitude to get a job done, but if they don’t work well with the other members of your team, bad hires can have a negative impact upon the morale of everyone around them. A bad hire, no matter how good they are at their job, can have a negative impact upon productivity if they don’t work well with their team, and that can hurt your entire business.
The same CareerBuilder study found that one in four employers who made a bad hire weren’t sure why they had hired that person in the first place. They said that sometimes you just make a mistake.
At Level Up Leadership, we believe that such mistakes are completely avoidable. With our pre-hire assessments, we help companies gain a holistic view of their potential hires, assessing not just their ability to do a job, but how well they would work within a particular culture and with particular people. By getting a fuller understanding of the person they’re employing, companies can avoid the costly mistake of a bad hire, saving time, money, and a lot of unnecessary headaches.