Cost of a Bad Hire – Tips to Avoid
The Business Journal cited a Society of Human Resources Management (SHRM) study that found a cost of a bad hire can cost up to five times the bad hire’s annual salary. Costs can include: Recruitment and hiring costs Human Resources time Hiring Management/Team time Orientation and training costs Learning curve productivity loss Work group/team productivity loss Add to that the cost of going through the hiring process again, and organizations – big and small – can quickly see the value of a solid, proven hiring process. MPS Technical provided tips on creating good hiring processes in a March blog post.…