Ultimately recruiting a wrong person for your business is a huge financial cost but not many of us think about the non-financial impact a bad hire can have. Here are 5 hidden costs that you perhaps haven't thought of. More reason why employers need to ensure they deploy a robust recruitment process to minimise the risk of a bad decision. This doesn't just apply to a senior leadership level role. Getting every hire right has such a long-term effect on your business culture and performance, so please reflect on this article and use the ideas to avoid a bad hire.
You know that a mis-hire carries with it a financial impact that can last for months on end. But there are other more subtle costs associated with mis-hiring that many, even in the HR field, don’t consider or don’t put enough weight into. In fact, these can last for years, long after the financial impact is absorbed. These 5 hidden costs of mis-hires must be avoided by modernizing HR practices to hire the right candidate the first time, every time.