No employer ever gives an approval of hiring a wrong employee in his organization. Not just because the employers would be required to find a replacement of the wrong hire but soon it will drain their time, energy and cost in a number of ways. When you hire the wrong individual, you’ll likely end up searching for strategies to reassign the employee to make him or her fit in the association somehow. However, on the other hand there’s a possibility that he or she won’t work out at all.
In such a case, what could be the cost of a bad hiring decision?
Loss of productivity
While managers often try to re-invest their energies on wrong hires to prepare them as worthy employees of the organization, all this add a pressure on the mind of the employers and managers, as well as, on the employee himself eventually resulting in loss of productivity. You cannot make a wrong employee understand about his job responsibilities if he or she is not just fit for it.
Loss of finance
You’re not just paying salary to somebody who may not perform to your expectations, but rather you may likewise be paying for extra preparing as well. What’s more? In such a case, if the employee does not turn up to the workplace all of a sudden, all you end up with is a huge loss in finance. Going forward, the loss will be stretched for finding another candidate and paying him or her what he expects at the time of crunch.
This is not it. There are various consequences of hiring wrong candidates and the creatively designed infographic illustrates it perfectly. Have a look to understand how bad hiring affects the business, what exactly are the reasons for bad hires, and what is the solution to avoid bad hire and make recruitment better.