3 Best Practices to Avoid Making a Bad Hire
Some studies predict that every time a business replaces a salaried employee, it costs six to nine months’ salary on average, while others predict the cost is even more, especially when it’s a bad hire. According to the Society for Human Resource Management (SHRM), “The cost of a bad hire to an organization is five times the bad hire’s annual salary.” For an employee making $40,000 annually, that’s $200,000 in recruiting and training expenses down the proverbial drain.