It’s happened to every company at some point: You hire a person you think is going to be a rock star and help drive your business forward, but what you get instead is a poison pill who is threatening to self-destruct and wipe out your forward progress.
Now, depending on when you realized that this was an experiment in futility, this can be a huge financial blunder. How much? Well, CareerBuilder says that two-thirds of companies have hired the wrong person and 41% of those companies claim that it ended up costing them more than $25,000. Worse yet, one in four of those said it cost more than $50,000. These are make or break numbers, folks.
The kicker? It almost always could have been avoided. Sure, it’ll take a little more effort up front, but who doesn’t want to do that as opposed to losing $50k on a bad bet? With a little bit of planning you can make sure that you avoid a cultural and financial disaster.
Now, without using names, I’d like to hear about some of your bad hire experiences and how you handled it. And, if you’re wondering, “Dealing with a Bad Hire” will be featured soon!
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