In a candidate-driven market, all hiring decisions should be made as quickly as possible to ensure the continued interest and availability of a strong candidate. But when a company has an urgent need, it increases the likelihood that a hiring authority will rush the process and cut corners to fill the position—even if the person they hire isn’t a great fit. No big deal, right? How much could one hiring mistake cost? Consider this: In June 2017, the 49ers drafted and signed Reuben Foster to a four-year, $9 million contract with $7 million guaranteed and a signing bonus of $4 million. After many off-the-field issues, the 49ers released him in 2018, just more than a year after drafting him. One bad hire cost them millions of dollars. According to London-based branding agency Link Humans, a bad hire can cost a company $240,000 in wasted recruiting, hiring and onboarding efforts. And that’s just the monetary cost to the company. It doesn’t factor in the amount of time a manager wastes on hiring and training the wrong employee, or the negative impact on the team’s morale and the success of the project.
Written by {{author.AuthorName}} - {{author.AuthorPosition}}, {{author.Company}} {{author.Company}} Contact Info: {{author.OfficePhone}} , {{author.EmailAddress}}
{{comment.Text}}