Hiring the Wrong Employee Costs More Than Just Money
It’s no secret that a bad hire is expensive, costing anywhere from 25 to 250 percent of one year’s salary for the role. But it’s not just the bottom line that takes a hit when you hire the wrong employee. A bad hire can have a major ripple effect across the organization.
If an employee quits after six months, you’ve wasted a lot of time and resources training and onboarding that person. Now, you have the privilege of starting all over. Six months is about the time when a new employee is finally making worthwhile contributions, and starting from scratch puts you that much further behind the eight ball.
When someone quits or is let go a few months after starting a job, it has a negative impact on the team. They were probably just settling in to working with the new person, and now that employee is gone. And with that vacancy comes a lot more work for your existing team. That extra work can lead to increased stress and decreased satisfaction with their jobs, which impacts engagement and productivity.
Hiring the wrong people can impact the company culture you’ve worked so hard to build. If someone doesn’t fit in with the team, if their values don’t align with the company’s and if they clearly aren’t “on board” with the company vision, you’ve got a problem on your hands.
Your company culture impacts the way your employees interact with one another, defines company norms and has a direct impact on the way people approach work. If someone doesn’t fit in, it can disrupt workflow and it can disrupt the way your good employees feel about working for you.
Cultural misalignment is one of the biggest reasons new employees don’t last. It is absolutely critical to focus on company culture throughout the hiring process, so you can choose candidates whose values and vision align with your company’s values and vision. Only people who buy into your culture and who thrive in your environment will succeed over the long haul.
The “Easy Way” to Reduce Hiring Risk
Every company is susceptible to a bad hire now and then. But you can reduce your hiring risk by working with Boston temporary recruiting services that can help you create a thorough hiring process that will attract the right types of candidates and weed out candidates who don’t have the right skills or cultural alignment to succeed. Many staffing companies also have temporary-to-hire programs where you can “test out” a potential employee for a set period of time before you commit to a full-time, permanent offer.
At Contemporaries, Inc., we make the right match the first time. Our Boston workforce solutions result in a 98 percent placement success rate. In fact, 90 percent of our temporary placements turn into permanent positions. To find out more about what makes us the best staffing firm in Boston, contact us today.