Let's look at the numbers

Last week I left you (hopefully) thinking about any experience you’ve had with bad hires, and how your hiring process might need some tweaking. I also left you anticipating some numbers.?

I won’t fall short of my promise – to truly understand ramifications of bad hires, let’s examine the financial, productivity, and staff well-being aspects.??

The Financial Consequences:??

The average cost of hiring the wrong employee is just under ￡14,000 according to research by CareerBuilder. Percentage wise, you are looking at around 30% to 150% of the employee’s annual salary, depending on your onboarding process. This includes expenses associated with recruitment, onboarding, training, and potential severance packages.??

What else could be done with that money??

But that’s not it, there are some more calculations I’ve found that I will share with you next week.?

Until next time,??

Lukas.?