Cost of a Bad Hire: Hiring the Right People Saves Money
An outline of how bad hires can negatively impact your business financially.

Cost of a Bad Hire: Hiring the Right People Saves Money

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The True Cost of a Bad Employee and How to Prevent Hiring One

The true costs of an awful worker can never be accurately measured, as he/she can ultimately ruin the growth of your company. Read this article to learn how much influence a bad hire can make and what you can do to spot one.

Facts and Numbers

According to surveyed companies, a bad hire in the past year has cost:
  • 41% of companies over $25,000
  • 25% of companies over $50,000

  • Other costs that companies have reportedly incurred from bad employees are:
  • 41% - Lost Worker Productivity
  • 40% - Time Lost to Hire and Train a New Worker
  • 37% - Expenses from Recruiting and Training New Workers
  • 36% - Harmful Influence on Employee Morale
  • 22% - Harmful Impact on Client Solutions

  • Why Bad Employees Are Hired

  • 38% - A position needed to be filled quickly
  • 34% - “It just didn’t work out”
  • 21% - The company didn’t make any proper assessments before hiring
  • 11% - The company didn’t check the references of the employee

  • How to Spot a Bad Employee

    A bad hire will usually carry a negative attitude and will not produce quality results. Some other things to watch out for are that he/she will not work will with other employees and will often show up late or not at all.

    Way to Make Sure You Have Hired the Right Employees

  • Have Great Interviews and Ask the Right Questions
  • Check The References of Potential Employees
  • Motivate Your Employee from Day One

  • There is no sure fire way to prevent yourself from hiring a bad employee, but the tips above will hopefully prevent you from having a “nightmare” one. Make sure that you notice the signs from the very beginning and know that the decision to keep an unmotivated and difficult employee is a costly one.

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