The Huge Cost of Bad Hires — And How to Stop It

There’s one word that makes C-level executives, human resources departments, operations personnel, sales teams and financial staffs shake with fear: Turnover.

When a new hire doesn’t work out, stress ripples throughout the organization. When it happens more than once or repeatedly, the effects quickly become a tidal wave of profit loss, decreased employee engagement and revenue growth. Turnover affects almost every aspect of a business. And yet these tangible costs, substantial as they may be, really only represent the tip of the iceberg. Hiring mishaps can hurt morale, productivity, brand image and customer relationships. If your company acquires the reputation of having heavy turnover, it will be challenging to attract good applicants, hurting your future.

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