Why a “bad hire” can kill your business
Every office has that difficult personality, or the employee who’s not good at their job so the rest of the team must pick up the slack. It’s not a big deal since that’s just the cost of doing business. Right? Well, we’d like to share some statistics with you:
Plus, when you add…
- Missed sales opportunities
- Tense client and employee relations
- Potential legal issues
- The resources needed to hire and train candidates
…the cost of a bad hire turns out to be pretty significant. Maybe a large corporation can afford to take large financial hits like this year after year, but not small to medium sized businesses.
We’ve identified three “bad hire” types and how keeping them on your team will cost you in the long run.
Bad Hire Type One: Bad Apple
Not only can one toxic person’s negative attitude slowly erode your business from the inside out, it can cost you clients, and top performing employees who don’t want to work in a negative environment.
What’s the damage? Employee moral costs
Bad Hire Type Two: All Smoke, No Fire
Does it feel like even after weeks of training, you could do the job faster yourself? If you’re still waiting on a member of your team to deliver on the skills they first promised in their job interview, this person may need to be replaced.
What’s the damage? Financial Costs
Bad Hire Type Three: Out Of Sync
Their words and actions are polar opposites. They say they’re a ‘team’ player but have a hard time collaborating with other employees. They tell you they’re open to criticism but become defensive whenever you give feedback. Worst of all…when you bring this to their attention, they swear they’ll change, but they don’t.
What’s the damage? Productivity Costs
If you know you need to start cleaning house and finding good hires, you may want to bring in a third party to evaluate your hiring process. Begin to rethink the way you identify, interview, and select new employees. Even if you have a current recruiter model in place, we invite you to try something new.
You owe it to yourself, your team, and your company to attract one good hire after another and watch your business grow. Request a Consultation to learn how we help small businesses get the right people into the right positions within your company.