“If you think it’s expensive to hire a professional to do the job, wait until you hire an amateur”- Red Adair.
Many times, businesses unwittingly pick a wrong candidate to fill in a vacant job. In fact, despite strong hiring guidelines, 95% of companies admit to recruiting the wrong people each year, according to research commissioned by Glassdoor from management consultancy the Brandon Hall Group.
These are the leading causes for bad hires according to CareerBuilder:
43% - Needed to fill the job quickly
22% - Insufficient talent intelligence
13% - Sourcing techniques need to be adjusted per open position
10% - Fewer recruiters due to the recession have made it difficult to go through applications
9% - Didn’t check references
8% - Lack of strong employment brand
The above referenced mistakes cause many companies to fail to hire qualified candidates, let alone improve their new hire retention and productivity. This is supported by a research conducted by Dr. Gary Kurtis, a well-known Industrial Psychologist, and Management Consultant, which reveals that 80% of organization’s turnover is caused by bad hires.
But if you think that bad hires can only cause a high new hire turnover, then think again. In this infographic, we will discover the true cost of a costly mistake in hiring bad candidates and how these hires hurt your bottom line.Type your paragraph here.
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