Poor hiring decisions are costing businesses significant amounts of time and money. In the previous blog post, we shared some shocking facts about the hidden costs of bad hires. We thought we would give an update on those numbers. According to the recent survey that FORSEE conducted, hiring a wrong person who performs poorly and decreases your team’s productivity is estimated to cost from 30% – 150% of their annual salary.
Our new infographic shows the true costs for making poor hiring decisions and top tips of how companies can avoid making those bad hires. The data of this report is based on the recent studies conducted by business2community, FORSEE, smartcompany, and CareerBuilder.
TalentVine is Australia’s number one trusted recruitment marketplace. With a free-to-use ‘Elastic PSA,’ TalentVine provides employers with simple, accountable and transparent access to recruitment specialists from over 200 of Australia’s top recruitment agencies.