Forty-one percent of companies estimate that a bad hire cost them more than $25,000.
One in four say it cost them over $50,000…
And these estimates are conservative.
Frightening, right?
Calculating employee turnover costs is always tricky. For those brave enough to try, simply add:
- Cost of time spent writing/posting jobs descriptions, reviewing resumes & interviewing candidates
- Cost of time spent training & providing orientation
- Cost of salary, benefits and perks
- Cost of providing severance or (oh no!) dealing with a lawsuit
Then add some of the less-obvious costs:
- Lost clients and new business opportunities
- Substandard work with rework, due to poor skills or mistakes
- Inefficient management of time and resources
- Missed deadlines
- Poor attitudes and lower morale
The numbers are gruesome and impact both hiring managers and their teams.
Vitamin T created an infographic to help you avoid hiring the wrong person. They have worked with thousands of clients of all shapes and sizes, so they know how to spot a zombie.
Besides, we all love zombies… As long as you don’t hire one!
Infographic after the jump…
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