There’s no question that a bad hire is bad for business. The price of a bad hire adds up in a variety of direct and indirect ways.
Here are some startling figures to consider:
In a recent CareerBuilder survey, 25% of the companies surveyed stated that a bad hire cost at least $50,000 within the last year and 41% of the companies surveyed stated that a bad hire cost at least $25,000 within the last year. Total costs could reach five times a bad hire’s annual salary, according to the Society for Human Resource Management.
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