The fact is that the costs of a bad hire will vary from company to company and situation to situation; however, there are “direct” costs that you can measure such as an employee’s salary and benefits, and “indirect” costs that are difficult to measure such as loss of productivity, time lost from other managers or employees involved in the hiring process, and/or time spent training a bad hire.
So while you may look at paying out a fee to a specialist Search as an unnecessary expense, in the long run it could turn out to contribute to your company’s profitability.
More often than not, these Top Performers are already working and excelling in their current positions; however, RecruitWell can help your company locate and attract them. Over time when they turn out to be “good hires”-this gives you a return on your investment through their productivity and performance.
Additionally, you reclaim all of the time typically spent in the recruiting and hiring process performing tasks such as: writing a job advertisement and placing the ad, receiving and reviewing resumes to find potential candidates, scheduling interviews, arranging a “second” round of interviews, performing background and reference checks, extending an offer…and if the candidate you hired doesn’t work out, you start all over again-not to mention the costs lost from the “bad hire’s” salary, benefits, training and orientation costs, your time spent in the interviews, and selecting the best candidates.
So while you think going it alone in the recruiting and hiring process saves you money, it may actually increase the probability for a revenue loss. Partnering with RecruitWell increases your chances of not only getting a return on your investment, but increasing profits for your company in the long run through recruiting and hiring “top performers” that make a difference to your company’s bottom line.
When it comes down to it, getting the right fit the first time probably matters a little more than you thought it did.
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