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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.

The average cost-per-hire in the US is over $4,000. So how do you keep your business from making mistakes in the hiring process? Dedicating time and resources to the hiring process can greatly reduce your risks in hiring the wrong person. Giving ample time to find the right fit will do wonders in finding the correct candidate rather than rushing to fill a position. Having a standardized, documented hiring process performed by someone you trust is essential. The interview process should revolve around the tenants of behavioral interviewing with proper assessment tools for the specific job.

For more on this, 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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