Search
 

Bad hires cost companies an average of $14,900

Making the wrong hire can cost employers big time, with the cost not just measured in dollarsalthough there are plenty of those involvedbut in the ripple effects they cause in the organization.

By Marlene Y. Satter | Updated on December 08, 2017
Employers asked about the effects of a bad hire on their business cited less productivity, lost time to recruit and train another worker and compromised quality of work. (Photo: Shutterstock)

Making the wrong hire can cost employers big time, with the cost not just measured in dollars—although there are plenty of those involved—but in the ripple effects they cause in the organization.

So says a report from Careerbuilder.com, which says in a new report, “if you’re not hiring the right people, your ability to succeed in other aspects of business can be greatly compromised.” And bad hires can be pricey in more ways than one: the survey found that companies lost an average of $14,900 on every bad hire in the last year, and more businesses had the problem than you might think, with 74 percent of employers saying they’ve hired the wrong person for a position.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.