Are you prepared for the risk you’re going to take next time you make a job offer? The actual cost of a failed hire goes way beyond just the dollar signs that make up their salary. One bad hire can cost your company business as well as money and destroy the morale of your current team. Here is a breakdown of the real cost of a bad hire.
- Failure to produce quality work. It may not be obvious at first but a bad hire can affect the quality of your product or services just by cutting a few corners or missing a few steps. What’s worse is often these mistakes are not caught until it is far too late to repair any of the damage.
- Negative attitude. Sometimes it is much clearer when a new hire becomes a negative influence on the office. A bad attitude can immediately affect other people and can become a real burden for your office to handle. This can also make its way to your customers.
- Attendance problems. If a candidate is late to their interview it may be a red flag. If you hire someone who begins a pattern of being late to work or missing too many days the impact will be noticeable. Others in your office will have to pick up the slack and begin to resent the new employee or you for making a poor decision.
- Customer complaints. The worst case scenario with a bad hire is how they affect your customers. You may be able to correct situations within your office but once their negative influence spreads to your client base the damage becomes more difficult to repair.
- Missed deadlines. Poor work often leads to missed deadlines which can create a snowball effect throughout your organization. When something doesn’t get done, someone else needs to finish it or it won’t get done. The first missed deadline should be a huge red flag and it needs to be addressed immediately.
- Failure to work well with others. Your team morale may be one of the most important aspects of your organization. As soon as dissatisfaction spreads it can be nearly impossible to counteract. As they say, one bad apple can spoil the whole bunch and you need to be responsible for your current team’s motivation on the job.
Are you concerned about the cost of a bad hire? Harvard resource solutions, a professional staffing agency in south east Michigan, can help you address these concerns and more!