The Cost of a Bad Hire

Hiring the wrong person for the job can be one of the worst decisions ever made by a hiring manager. A bad hire is such a burden and it has an enormous effect on every business, no matter the role or the size of the company.

Here is what happens when you hire the wrong person for the job.

1. Financial Cost

Right from the moment the HR team decides to fill up a vacant role, it involves time, money, and resources. Placing job adverts on the right job portals to attract the right audience comes at a cost. Sometimes, the organization may retrain the employee to meet the standard of the organization. However, the contract of the employee may be terminated if they are unable to keep up even after retraining and this increases turnover costs.

2. Disrupt Company Culture

Every role has a kind of personality that perfectly fits it. If the persona of the employee is way below what is expected, it becomes detrimental to the organization. This could result in a lack of motivation for the job and it finally turns out that he/she is unable to adapt to the culture of the organization. This ruins the morale of other team members because a wrong hire does not understand the values of the organization. Hiring a perfect cultural fit should be a priority to avoid wasting time on replacing a bad hire.

3. Decrease Productivity

It will be a great disappointment if the output of an employee does not meet the description of his/her CV. This could result in poor performance and can have a negative effect on the productivity of the rest of the team in several ways. Since a bad hire does not have the right skills for the job, the rest of the team tends to burden themselves with the extra workload and this affects the effectiveness and growth of the business.

4. Loss of Revenue

Hiring the wrong person not only decreases productivity but has dire consequences on the revenue of the business. Every business needs the right human resource to achieve overall business objectives. However, the business may incur a great loss in revenue if employees lack competence. For instance, a bad hire with the wrong attitude who interacts with clients of the organization will dent the brand image and may cause the loss of clients and money. Employees are the face of every organization and if they lack the requisite skills and attitude it affects the reputation of the business as a whole.

How do you avoid this?

To avoid wasting time, money, and resources in hiring wrong, it is best to screen and?test for the best ?candidates before making final hiring decisions.

Invest in hiring the best using the Jobberman Skills assessments test. Click?here ?for more on skills assessment tests.

Join our webinar on the 3rd of November, for an insightful session on the topic, "Hiring the right fit for the job; the role of the hiring manager".

This is a FREE event.

Save your slot?here and join the live broadcast here .