The Cost of a Bad Hire [Infographic]

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Hiring costs you money. From the time it takes your HR people to read resumes and conduct interviews to the very real costs of running background checks and drug screens -- the dollars add up. While skipping or glossing over steps in this process might seem like a great cost-saving move, the truth is, hiring the wrong person costs you much more in the long run.

Monetary costs are not the only risks. Hiring the wrong person can affect morale and productivity. Not hiring the right person can land you in a vicious cycle of spending and being understaffed.

Bottom line, doing it right the first time is better for your team and your balance sheet.

 

cost-of-bad-hire

Employees who are not properly vetted can end up costing a company thousands of dollars. One study found that one in forty retail employees were discovered stealing from their employers. You can read more about the study from our whitepaper.

There is no reason to put yourself at risk. Background checks can help prevent one bad hire from taking down your company’s hard work. Learn more about how you can prevent a bad hire with a background check.

Pre-Employment Screening: The Definitive Guide

 

Sources

Turnover Costs - American Progress

Training - Training Magazine

Time to fill - SHRM

Job board advertising - Glassdoor

What is a “Bad Hire” Survey - CareerBuilder

Customer Service - Zendesk, Forbes

Lowered Productivity - Gallup, Wall Street Journal, Chron

Stress - American Psychological Association

Absenteeism - Circadian

Fraud - Association of Certified Fraud Examiners, Global Retail Theft Barometer

 

Background Checks, HR & Recruiting

Jennifer Gladstone

Posted By: Jennifer Gladstone

Jennifer Gladstone is a news anchor and journalist with more than 20 years of experience in front of the camera. She's worked in several markets, large and small, and has performed nearly every task needed in a newsroom. As EBI’s Screening News Editor, she keeps EBI’s customers and blog subscribers up to date on the latest screening news and legislative alerts affecting companies of all sizes.

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