We’ve produced this infographic ‘The cost of hiring the wrong employee’ to highlight the dangers of getting it wrong in recruitment. First and foremost, avoid rushing into making a new hire. According to the National Business Research Institute, 43% of respondents listed the need the fill a position quickly as the reason they made a bad hire. According to Oxford Economics the financial cost of making a bad hire is £30,614, but it is not just a financial loss that your company could suffer. A Robert Half International survey found that 39% of chief executives said that bad hires had cost them productivity. The statistics are not just limited to what we’ve put into our infographic either. Robert Half International also found that supervisors spend 17% of their time, almost one day per week, managing poorly performing employees. 95% of financial executives surveyed said that making a bad hire at least somewhat affects the morale of the team, and 35% said a poor hire greatly influences employee morale.
The statistics are endless and quite frightening. They highlight the potential damaging consequences of making a bad hire and why it is important to manage the recruitment process with care.
Get it right first time
The infographic highlights the problems but what are the solutions? Working with a niche recruitment agency like ourselves will ensure that you find the right person for the job. With more than 30 years combined experience in the Data and Analytics industry, our team have the knowledge and expertise to help our clients find the perfect candidate and therefore, avoid not only the financial but the productivity and reputation costs associated with getting it wrong. If you are interested in our services, do not hesitate to contact us by filling out the form on our website. Alternatively, if you’d like to talk to one of our directors today you can call 0117 315 5265 during UK office hours.