The Huge Cost of Bad Hires — And How to Stop It

A company is only as good as its employees and the reverse is equally as true. One bad hire can cost a company serious time, money and resources. If hiring the wrong personnel becomes a habit for a company, the stress from that ripple throughout the entire firm. Profits are hurt, employee morale is damaged, and your growth will be halted.

If your firm develops a reputation for not-so-good employees, it can become extremely difficult to shake that. That reputation will also hurt future prospects since talented job candidates will distance themselves from your firm since they see it as a revolving door rather than an inviting place to further a career.

So, what can you do to keep your business from making mistakes in the hiring process? Be sure to write accurate, detailed and exciting job descriptions to attract motivated and skilled candidates. Train all personnel that are a part of the hiring process. This will help everyone be on the same page when vetting a potential hire. Remember, a potential hire should fit not only in the role but also in your company’s culture and workplace. Background checks are also important and is not an area to skimp out on.

For more on the costs of a bad hire and how to create a standardized hiring process that can save you time, energy and money, check out the resource below.

What Are Bad Hires Really Costing Your Business? from Torch Group, a C-level Recruiting Firm

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