Infographic: What’s The Cost Of A Bad Hire?

by Modis on April 15, 2014

Learn about the high cost of a bad hire, with statistics and tips.

It’s one of the most costly and time-consuming missteps a company can make: It’s the bad hire, and it can happen when you least expect it! Before you start the hiring process, arm yourself with all the right information, and a solid understanding of just how much a bad hire can cost you.

Our infographic below covers the vital points:
• Traits of good vs. bad IT talent
• A look at the impact a bad hire can make on your bottom line
• How other companies have fought the bad hire battle

Have a crucial hire to make? Contact us today to find out how Modis can help you lock in the great hire you’re looking for! 

Infographic: What's The Cost Of A Bad Hire?

Embed our infographic on your site using the embed code below!

Look Beyond The Resume

You’ve spent hours combing through resumes and interviewing the most qualified candidates you could get your hands on. You involved other employees to vet this potential employee. You even spent a little extra to advertise the opening on a couple job boards to expand your search. Your new hire seems like the perfect fit, but sometimes reality tells a different story.

Your new hire ends up being a nightmare! Here are just a few of the characteristics to be on the lookout for that raise some major red flags:
• Changes jobs often
• Not a great fit for corporate culture
• Easily frazzled or can’t handle stress
• Doesn’t work well with others
• Acts superior to others

Own The Bad Hire: Learn, And Move On

That bad hire is likely your bad! 80% of employers admit that bad hires are their fault. It might have been the need to fill the position quickly or the lack of exceptional professionals in the talent pool that threw the entire hiring process for a loop.

Admitting defeat and discovering what went wrong is your best weapon. Once you identify breakdowns in the process, your likelihood of hiring exceptional talent will soar!

TWEET THIS BOX: 80% of #employers admit that bad hires are their fault. link

Evaluate And Respond Quickly

After recruiting, replacement and onboarding expenses, the cost of your new hire is slowly inching upward, and if this bad hire stays with the team for much longer, they can destroy employee morale.

Simply put: when it comes to your team and the bottom line, the cost of that one bad hire negatively impacts the growth of your company. Does this scenario seem familiar? Well you’re not alone. Almost every company experiences a bad hire in one way or another. But how you handle it can set you above the rest.

Are you on the rebound from a bad hire?

We can help connect you with the top talent your company’s craving. Contact us today to get started!

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