Calculating the Cost of a Bad Hire – What’s Your Formula?

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If you’ve been in business for a while, chances are you’ve made at least one hiring mistake you wish you could take back. Whether a new employee was a complete disaster or just didn’t live up to expectations, a poor fit can cost your business time, resources, and of course, money.

When hiring is rushed, it’s easy to pick the wrong individual for a role. They may have all the qualifications you’re looking for, but the culture or company values, or even the team structure may not be a match. Here’s a breakdown of the true cost of a bad hire. 

The Negative Impact of Bad Hires

As you think about the expenses associated with bad hires at your company, there are a number of factors you may want to take into account. Among them:

Poor employee morale

According to small business owners surveyed by staffing firm Robert Half, the biggest impact of a bad hiring decision is lower staff morale. Employees who have to work with less-than-stellar new colleagues can easily feel frustrated having to deal with behavior issues or unsatisfactory work. Often, employees have to pick up the slack for underperformers, which can create resentment and even an

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