What is the True Cost of Hiring a Bad Employee?
We all know that hiring the wrong employees can cost organizations a huge amount of money, but this infographic by Resoomay presents some startling figures.
According to the US Department of Labor and Statistics, the average cost of a bad hiring decision can equal 30% of first-year potential earnings, and according to the Harvard Business Review, as much as 80% of employee turnover is due to bad hiring decisions.
Employers are coming up with creative ways to confirm their hiring decisions. Examples of this include taking candidates out for dinner and drinks to see how they interact in a social setting, asking that candiates provide a writing sample or complete a test or case study, and hosting a panel interview to ascertain how candidates react under pressure and with competition.
With the high costs of not hiring the ideal employee, these additional candidate screening rounds are becoming more popular.
View the infographic here: https://lnkd.in/bTFGZkC
Originally published by Jörgen Sundberg in Undercover Recruiter