The Cost of a Bad Hire [Infographic]

by Paul Slezak
Hiring Talent, Infographic, Skills shortage, Startups - 3 years ago

Editor’s Note: This post is by Paul Slezak, Cofounder and CEO of RecruitLoop – the World’s largest marketplace of expert Recruiters and Sourcers available on-demand.

Hiring the right person can be tough. Aside from having the right skills for the job, you also need to be sure that they will mesh will with your team. There is nothing worse than an employee that doesn’t carry his/her weight. It can lead to all kinds of problems both financially for the company and emotionally for the other team members.

EBI looked at these factors that are at risk with their awesome piece on the true cost of a bad hire. From the costs associated with hiring a replacement to company-wide productivity losses and employee theft.

For example, did you know that the average cost for employee turnover is about 1/5 of the employee’s average salary?

All told, you are definitely better off getting it right the first time! See why below.