Mis-hire

We have estimated that the dollar cost of a mis-hire of a secretary in our firm is more than $17,000.

If it's been more than six months since the mis-hire, there's apt to be a repeated recruiter cost.

The cost to you and the organization of churning through a mis-hire is very high; so too is the cost to the person who is hired and then let go.

If a new employee quickly becomes an obvious mis-hire, that person should be let go while keeping to the letter of the laws on hiring and firing.

Even a handful of mis-hires or dishonest employees can create financial disaster through theft, high turnover or Workers' Compensation fraud.

Another fifth of the salespeople are constantly battling personal problems, such as divorces, legal problems, chemical dependency; some are lazy, and many are simply mis-hires.

Not only might you mis-hire, but, the legal aspects of these off-handed decisions may prove extremely expensive.

If you mis-hired, cut your losses early.

Recently I met with the heads of human resources of Global 100 companies, and in a confidential survey they stated that their companies mis-hired people 80 per cent of the time and mis-promoted people 75 per cent of the time.