When you’re overloaded with work and you’re impatient for an extra pair of hands to help you, it can be tempting to hire the first reasonable person that comes along. After all, the sooner you get some help, the better!
But have you ever thought how much a bad hire really costs you? The actual cost of a bad hire might surprise you. You’ll probably expect recruitment costs, like advertising. But that’s just the tip of the iceberg…
The hidden costs of a bad hire
The hidden costs of a bad hire can include things like:
- The time spent interviewing, training and inducting employees
- Trainer’s salary
- Time (or money) spent on reference checks and background checks
- Set up costs, such as computers, software licenses and business card printing
…That usually adds up to thousands of dollars!
Are you now wondering what the true cost is for a bad hire in your own business?
Use the Bad Hire Calculator below to find out:
Instructions: Add your estimations in the fields below. The total Cost at the end will automatically update as you make the changes.
Does the true cost of a bad hire worry you?
If the recruitment cost of a bad hire worries you, then you need to call in the professionals. We’ll help to eliminate that unnecessary expense (and erosion of your profits).