Bad Hires Are a Drain on the Bottom Line
Let's face it: It's painful to work with new hires who aren't working out. They miss deadlines. They produce sloppy work. They often seem to pack 10 pounds of negative attitude in a five-pound bag. And guess what? Management is equally frustrated with recruits who don't work out. A failed hire represents a direct drain on the bottom line, with the actual cost extending well into the mid-five figures, according to a recent survey from CareerBuilder. And that's not even accounting for the affect these hires have on intangibles such as employee morale. Which means managers should put in more due diligence before making hiring decisions. (A surprising percentage of hiring managers don't even check references!) "Whether it's a negative attitude, lack of follow-through or other concerns, the impact of a bad hire is significant," says Rosemary Haefner, vice president of human resources at CareerBuilder. "Not only can it create productivity and morale issues, it can also affect the bottom line." Nearly 2,500 hiring managers and human resource professionals took part in the research.