Bringing the wrong person on board is an expensive — but not uncommon — mistake.
Nearly three in four employers (74 percent) say they’ve hired the wrong person for a position — and companies lost an average of $14,900 on every bad hire in the last year, according to a new survey of hiring managers and human resource professionals.
The effect can be significant. Thirty-seven percent of employers said a bad hire resulted in reduced productivity; 32 percent found a bad hire caused them to lose recruiting and training time, and 31 percent felt it compromised the quality of the organization’s work.
Companies’ reasons for bringing bad hires on board varied. Thirty-five percent thought that although the person didn’t have the necessary skills, the proficiencies could be learned quickly.
Thirty-three percent of human resource professionals and hiring managers said a candidate had lied about the necessary qualifications. Thirty percent cited pressure to fill the role quickly.
For more the way hiring issues can impact an organization, view this press release from CareerBuilder.