Financial costs
Everyone knows that employing a new staff member is one of the biggest financial investments that businesses ever make. In addition to their salary, there are the add-on costs of management, training, payroll taxes, heating and rent – and this is to mention just a few.
If it turns out that the person is not quite up to the job, you won’t be seeing a full return on your investment; you might also have to pay for training to get them up to speed. And if, in the end, you decide to let them go, you will have to cover the considerable costs of severance pay, re-advertising and re-hiring.
Productivity
There are other costs associated with a bad hire that are less easy to measure. Have you counted, for example, all the hours you or others in the team have spent managing a poorly performing staff member, or thought about better ways in which that time could have been spent?
Morale
Another often under-estimated effect of a bad hire is the impact it has on the morale of the rest of the team. I have seen the negative attitudes of disaffected employees spread like wildfire through the workplace, affecting not only the atmosphere, but also productivity. Staff morale can also affect your external stakeholders and how they perceive your business. How does it make you look if the people that work for you aren’t happy?
Reputational costs
A good reputation is hard to build, but can easily be damaged or destroyed by an employee who doesn’t deliver your company’s services or demonstrate its values in the way that you would like. Worse still, they could post negative reviews about your company or you as an employer on social media, causing untold damage to your reputation in the eyes of your clients or prospective employees for years to come. You don’t get a second chance to make a first impression!
Get it right the first time
So how do you avoid the costly mistake of hiring the wrong person? It goes without saying that the first step is to ensure that you attract only the most suitable applicants in the first place.
The Proven Group can do that for you. As resume-writers, we meet and get to know every candidate personally. We are therefore uniquely placed to make that vital pre-assessment and put forward only those candidates we believe will be the right fit for your vacancy and workplace culture. We also take the time to learn about you, your organisation and your staff before we even start putting candidates forward for you to meet.
If you’d like help recruiting the right candidate, feel free to get in touch for a no-obligation discussion.
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