Bad hires cost. How much can vary from company to company, but the US Department of Labor and Statistics reports that a bad hire costs you around 30% of his or her first year’s prospective earnings. These expenses include exit interviews, severance pay, overtime for employees once the bad hire is fired, the cost of finding a replacement, training a new employee and more.
And the damage isn’t just financial. Bad hires can weigh down the morale of your entire company, either because other employees have to work harder to compensate, or because you have to spend more time micromanaging and directing the unqualified employee.
Then, once the employee is gone, your employees’ morale can slip further when they have to pick up the slack of an unfilled position. Add to it that employee gaps can lead to poor customer service and accounts getting lost in the staffing scuffle, and you’ve got a toxic business situation.
So, what can you do to avoid a bad hire? Here are some tips from your human resources experts that should help:
- Don’t rush. The National Business Research Institute (NBRI) found that 43% of employers surveyed made a bad hiring decision because they rushed the process. When there’s a gap in your company, it’s easy to want to fill it as quickly as possible. But keep in mind that bad employees can cost you a lot more in the long-term. Make sure that you truly feel confident with your hires before bringing them on board.
- Sharpen your interview process. When you’re looking for the next candidate, make sure that character matters just as much as skills and relevant experience. From that same NBRI survey, 60% of employers said their bad hires couldn’t work well with others. Formulate questions that probe into your potential hire’s interpersonal skills, problem-solving abilities, attitude and more.
- Keep focused. You don’t want to let the hiring process slip to the backburner. It might seem like an unnecessary use of time in the moment, but it won’t later once you have to deal with the fallout of a bad hire. Pay close attention to resumes, call each potential hire for a quick phone interview before deciding who to interview in-person, check references, and schedule multiple interviews if you are still unsure.
- Outsource the hiring work. You can outsource the hiring process to a skilled staffing company. KB Staffing offers quality staffing solutions—and we do the hiring work for you.
KB Staffing is a full-service staffing company in Polk County with expert staffing experience. If you’re interested in our staffing solutions, you can contact KB Staffing by clicking here or calling us today at (863) 875-5721.
