What Is The True Cost Of A Bad Hire?

I hope you've all had a fabulous weekend as you contemplate your tasks for the coming week.

I'll assume you've now got over the shock of the speed in which the weekend travels..

Today I'd like to share with you my thoughts on the cost of getting your recruitment wrong. If you fall in one of two categories;

A) You're a growing business that requires access to a regular talent pool.

B) You're an existing business that has to work out how to increase output with your current personnel.

If either is you, then what I have to share is worth your attention.

According to the REC, a mid-management level salary of 42K can cost a business more than ￡132,000 due to accumulation relating to training, loss of productivity and company moral etc.

When it comes to staff turnover, people obviously vote with their feet and the impact of a bad hire can resort not only in the the loss of those fixed costs but also productivity.

Losses are incurred from existing talent fed up with the status quo and either working to rule or simply walking out.

Empatico, is a talent development solution for small businesses with big ambitions.

Empatico will help you manage;

1) Compatibility of new employees with existing teams.

2) Ability to forecast the impact of new members to a team.

3) Data-driven decisions with actionable analytics.

4) The ability to do virtual restructuring in order to maximize talents and strengths in the right areas.

5) To construct highly effective teams using behavioral science

6) To alter team composition and access productivity scores before making changes or recruitment decisions

If this sounds like something you could make use of, then please leave a comment in the box or message me for further details.

NB: If you've fallen foul of the dreaded 'poor hire', please leave a comment in the box. Have a great Tuesday!!