It is well known that hiring the wrong employee can be costly to your organization – but just how costly? Hiring mistakes hurt morale, productivity, customer relationships and brand image. Once a company acquires a reputation for having heavy turnover, it will be seriously challenged to attract new talent, new customers and even suppliers.
Establishing a standardized, documented hiring process with skilled personnel will help you reduce the risk of making a bad hire. With 74% of companies admitting that they make at least one bad hire annually, this isn’t the area that you should put aside and hope for the best. Prioritize your hiring process and watch your new hire retention skyrocket. If done well, employee morale and engagement will increase while your hiring costs will greatly be reduced.
For more on what your organization can do to avoid these hiring mistakes, continue reading below.