The Cost of a Bad Hire.
£142,689
is the average cost of a bad hire in the building services industry
Can a bad hire really cost £142,689?
Many businesses and hiring managers have the belief that an employee that fails to stay with the company for more than a year or two has minimal cost outside of the recruitment fee and the salary you pay the individual whilst they rae in the business. As a result, provided you negotiate hard on the recruitment fee (or don't pay one at all) and act quickly to root out a rotten apple, you can move onto the next hire and at some point you'll get it right; or, what is more likely, get lucky at some stage.
The trouble with this method is that it often results in eye-watering costs, that likely get assigned to other operations or economic influences that may have impacted the business over the same period.
There is no substitute for quality talent. It is what will define the success of your business without doubt.
Our calculator uses a variety of factors to determine how much of an impact your latest unsuccessful hire has cost your business; but there's plenty more to think about. Take a look at our article which explains everything in more detail; and try the calculator for yourself.
of employees who left your business in the last year, what was their:
Want to talk it through?
We appreciate the fact there is a lot of information to process here.
Simon Wilson, Director of Greystone, created the Bad Hire Calculator and is available at no charge, with no obligation, to talk it through with you in more detail.
