How Much is That Bad Hire Costing You?

Posted on April 23, 2015

Lazy, late, bad attitude and just downright awful. Does that describe your newest employee? Hiring good employees is one of the biggest challenges facing business owners and managers. While great employees make great companies, hiring the wrong person in a position can cost you customers and money. Zappos CEO Tony Hsieh once said his own bad hires have cost the company more than $100 million – which is one reason he now offers new hires a $2000 bonus to quit after their first week on the job.

Given the high stakes, what’s causing these bad hires and what can be done to avoid them? Rushing to fill a position and a lack of qualified candidates can cause you to end up with a team member who drags everyone down. Make sure you have the tools and resources you need to quickly hire the right local person for your job openings, so you can avoid these high costs of a bad hire.

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