Survey: Bad Hires Are Costly
December 13, 2012 by UPI - United Press International, Inc.
CHICAGO, (UPI) — Nearly a quarter of U.S. employers in a survey indicated a bad hiring decision had cost the company more than $50,000, CareerBuilder said Thursday.
Forty-one percent indicated a bad hiring decision had costs more than $25,000 and 69 percent of employers indicated a bad hire had a negative impact on the company in 2012.
The costs of a bad hire include a drop in productivity, time and money lost recruiting and training a replacement, problems with morale and a negative impact on clients, CareerBuilder said.
Bad hires reveal themselves through poor quality work, incompatibility with co-workers, negative attitudes and attendance problems that reveal themselves soon after hiring, CareerBuilder said.
The survey involved 2,494 survey responses from Aug. 13 through Sept. 6. The results of the survey have a margin of error of plus and minus 1.96 percentage point one can say with 94 percent probability, said Harris Interactive, which conducted the survey on behalf of CareerBuilder.