The true cost of hiring the wrong person can be substantial, both in terms of time and money. Some of the key costs include:
- Training and onboarding costs: The time and resources spent training the wrong person can be substantial and will not result in a productive employee.
- Lost productivity: If the wrong person is hired, they may not be able to perform the job effectively, which can result in lost productivity and impact the overall performance of the company.
- High turnover rate: If the wrong person is hired, they may not be a good fit for the company, which can lead to a high turnover rate and the need for frequent recruitment and training.
- Damage to company reputation: Hiring the wrong person can negatively impact the company's reputation, particularly if they behave inappropriately or engage in unethical behaviour.
- Damaged relationships with clients: If the wrong person is hired and they provide poor service or engage in unethical behaviour, it can damage the company's relationship with clients.
- Increased HR costs: The cost of recruiting, interviewing, and hiring a new employee can be substantial, particularly if the wrong person is hired multiple times.
- Decreased employee morale: If the wrong person is hired and their behaviour has a negative impact on the workplace, it can decrease employee morale and lead to a toxic work environment.
- Legal costs: If the wrong person engages in illegal or unethical behaviour, it can result in legal costs for the company.
In conclusion, hiring the wrong person can have a significant impact on a company's bottom line, both in terms of time and money. Electus take the time to thoroughly screen candidates and ensure they are a good fit for our clients in order to minimize the risk of hiring the wrong person.