Business Resource
The real cost of a bad hire
Recruiting the right person can be tricky. When it goes well and you make the correct appointment, it’s a win-win for everyone.
But giving a job to the wrong candidate can be a costly nightmare, especially once you factor in all of the expenses. You may already know the cost per hire for your business, but if you don’t, you’re not alone.
Over half of organisations in the UK don’t know what theirs is either.
It is important to get a realistic handle on what a bad hire costs your business. In 2017, for example, research by both Work Institute and Career Builder found the average cost of a bad hire to be around $15,000. However, not all positions are the same, so how do you distinguish the costs of a senior level bad hire from those of a more junior role?
Quick Guide: The Real Cost of a Bad Hire
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