THE COST OF A BAD HIRE



Hiring can be one of the most important decisions a manager makes. And yet, we know that hiring mistakes are made all the time.


Not only do you need to fill the position, but you also want to make sure that person will be able to perform well in their role and contribute positively to your team. Unfortunately, it's not uncommon for new hires to fail to meet expectations or even worse, cause harm to your organization.


The cost of bad hires can be significant. Time and expenses associated with onboarding & training new employees are just a few of the costs associated with the bad hiring, but there are many other hidden costs as well:

  • Hours spent reviewing resumes and interviewing candidates

  • Recruitment advertising fees

  • Time and energy managing poor performance and employee turnover

Not only does it cost money when you make a bad hire; it also impacts your team morale and stress levels.


Your clients are the lifeblood of your business. If an employee is not doing a good job and being as productive as possible, your customers may be unsatisfied. Even if they get their work on time, if it is not of good quality, they may end up leaving you. One bad hire can lead to quite a few lost clients.


On top of all that, there are risks associated with poor performance: hours spent managing poor performance and risk of diminished customer service (not to mention impact on team morale and stress).


So what do you need to do?


Make sure you have clear expectations before you start looking for someone to fill your open position.


With all the time and effort you put into your hiring process, it's important to make sure you're making the right decisions. Here are a few tips that will help you hire better, faster:

  1. Set up a trial period of 1-2 weeks is a great way to assess a candidate's ability to integrate with the rest of the team. Understandably, this may not be suitable for all companies, depending on your team size or nature of your work but if possible, it is worth consideration.

  2. Conduct exit interviews, bad hires usually result in employees leaving your company. Whether they are leaving voluntarily or involuntarily take advantage of this time by conducting exit interviews.

  3. Don't Sacrifice Quality for Speed, While supporting hiring activities, it is common to hear statements like ‘I need someone quickly, just get me anyone who knows Excel’. Too often, hiring managers are so anxious to put a body in a chair that they overlook a candidate’s flaws and hire someone who doesn't really meet the needs of the job.


We at Foreground speak your language to build strong, long-lasting relationships and offer a customized approach to each search.