The Costs To Consider
Wasted payroll and benefit costs of training an employee that doesn’t stick is the most obvious cost to consider when calculating the sum of your loss. Less commonly considered costs are the more indirect ones, such as additional supervision, loss of actual great employees from a sullied work environment, and overall lost yield or productivity. In the CareerBuilder.com survey report, managers reported an average of 17% of their upper management’s valuable time was spent working with under-performing employees who did not stay for longer than 8 weeks. A whopping 95% of those surveyed noted that the overall mood and atmosphere in an office is damaged by a bad hire situation. To avoid hiring the wrong person, there are several critical steps you should take before you make the final hiring decision.
3 Ways To Avoid A “Bad Hire”
1. Take Your Time – What’s the better plan? Lose thousands of dollars and ultimately days worth of agony over making a bad choice OR call every reference to check out the claims made on a resume? Yes, pick up the phone, type the emails – it pays off. When you reach a reference that a great candidate has listed on their resume and they give you a winning review of your possible future employee, you’ll know you made the right decision by doing your due diligence. A whopping 33% of the managers surveyed in the CareerBuilder.com
2. Start Small – Even when you have that confidant feeling you’ve hired the right person, it’s still a great idea to spend the first couple weeks of their employment giving them smaller tasks or even offer a trial period.