Advance was also present at Expo Labor 2016. During this event, a presentation was given by Ms. Charlène Nectar on ‘the cost of a bad hire’. Having no candidates is better that hiring a bad one. As a business owner and/or an HR professional you’ve probably had at least one moment when you thought, “I wish I’d never hired that person.” There are many financial and non-financial costs involved in replacing an employee. Whether it’s negative attitude, increased AO% or other concerns, the impact of a bad hire is significant. Not only can it create productivity and workplace morale issues, costs such as salary and recruitment expenses can also have an impact on your company’s bottom-line.
Not only was a breakdown given of how much a bad hiring decision can cost an organization but also suggestions as to how to minimize the possibility of this happening. Attendees learned more about what works and what doesn’t when it comes to recruiting, selecting and hiring employees. It is important to make sure that your practices are up to par!
Contact us if you have any questions or need assistance with your recruiting and selection process.
Trackback from your site.