IMPLICATIONS OF HIRING MASTAKES

Studies suggest that the cost of hiring the wrong employee can be as much as three times their annual salary.

The obvious costs are the cost of placing the recruitment advertisement/paying an agency fee and the management time spent screening and interviewing candidates.

There are a number of other factors that come into the equation:

• Time and resources invested training them for their new job. 
• Loss of productivity during the training period
• Impact on customers through mistakes made by poor employees
• Impact on morale of workforce
• Cost of managers’ tendency to hold on to employees longer than they should  
• Cost of  eventually firing the employee 

Even if you don’t agree that the cost is three times, come up with your own number of the probable cost for your organization. It is probably much higher than you thought.

What difference would it make to your business if you could recruit people who have the right style and talent for the position you are filling rather than just the “right” experience?

How would it affect your profitability if you could place prospective employees in positions suited to their particular style and your needs rather than just guessing?

Selection Edge is a simple process that involves little senior management time. It will help you realize greater productivity and create a more stable work environment.