The effects of a bad hire
Reaching top talent isn’t easy but it’s a gold mine if you have access to it. If you choose to settle with less, It won’t be long until the effects become obvious within 30 days of the new hire’s start date.
Let’s take a look at the bad hiring effects and costs:
A burden on the budget
A bad hire costs up to 6 times the employee’s annual salary – not a great picture, isn’t it? Costs such as recruiting, marketing, onboarding, training, poor productivity, missed opportunities are just a few that have their share in this exorbitant cost.
Undermined company culture
Bad hiring effects are visible in the organizational environment and impact culture as well. Hiring a candidate that lacks the dedication or work ethic in doing their job might push the neglected responsibilities unto others. This can damage the relationships between co-workers, create resentments, and schisms in otherwise healthy and productive teams. Even worse, it can damage employee relationships with the leadership as they have a hard time to reconcile the bad hiring with the organization’s vision.
Bad customer experience
We all know what a bad customer experience can do to a brand’s reputation. Customers that had a poor experience tend to extrapolate it to the entire organization. The next thing they will do is to avoid your product/service and another negative experience.
According to statistics, U.S. companies lose more than $62 billion annually due to poor customer service.
SourceMatch is privileged to partner with its clients to find the right candidates: understand the roles that need to be filled beyond the job description, and create the profile of each candidate beyond their resume, giving us a 360 degrees perspective of the candidate. All of this enables the hiring manager to have a clear understanding of who candidates are and how they’ll do in their organizations 3, 6, 9 or over 12 months on the job.
Let’s talk today about the SourceMatch Engaged Recruiting model!