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The average cost of a bad hiring decision can be one-third of the annual salary if the decision is discovered and corrected within the first six months that the new employee is on the job. If discovered later, the costs go up. Add legal fees and possible out-of-court settlements, and the numbers increase.
A bad hiring decision is a bad investment, one that all organizations try to avoid. In fact, the point can be made that bad hiring decisions escalate the longer the decision is not addressed or goes unnoticed. Costs can be attributed to the added expense of training replacements, the inefficiency replacements bring to the job during the learning process, fees paid to recruitment agencies, travel and advertising expenses, interviewers' salaries and benefits, and much, much more.
The Costs of Bad Hiring Decisions and How to Avoid Them is loaded with practical, easy-to-read, and understandable tips for making sound and defensible hiring decisions. Avoid poor choices that drain profits from your company or agency. Keep your employment choices healthy and profitable. Don't hire arbitrarily. Avoid hiring on gut reaction alone. Your budget can't afford a devastating blow. From deciding what you're looking for in a candidate, to extending a job offer verbally and in writing, this book will prove to be a valuable resource.