The True Cost of Getting a Hiring Decision Wrong 17th September 2018

The true cost of getting a hiring decision wrong can only be partly measured.

We can calculate the time we spent hiring and training, recruitment and advertisement fees and a host of other quantifiable factors.

(We have designed a handy calculator for you to do just that. Request it from [email protected])

But can we calculate the emotional costs involved? The answer is no. 

People like to say “don’t take business personally” but in truth we do. We love our companies and we take offence when people come in and don’t’ work as hard as we do or bend the rules to suit themselves.

When a new employee comes in and they do not have our values they cause a huge amount of upset in the team. They upset your existing people and drag down the performance of others.

It is likely that you have experienced a person leaving a company, worried about how you will cope and then find that actually; you do just fine! Everyone is happier and productivity is immediately improved. 

You can’t put that on a spreadsheet!

If an employee leaves because they do not have the skills required to do the job, you can be sure that others have been working harder to compensate for them. If they have been making mistakes, they have created extra work and stress on everyone. Again, the emotional cost and the loss in productivity of your existing staff is very hard to calculate.

What about you, how do you feel when you have to deal with a bad employee? What effect does that have on your emotions and your life?

The truth is we can never know the full cost of getting a hiring decision wrong. 

Which makes it even more important that we get our hiring decisions right!