The Department of Labor estimates that a bad hire costs approximately 30% of that person’s earnings their first year due to recruiting, training, onboarding, and starting all over again afterward.
However, hiring the wrong person for the job costs more than the money and time required to hire and train. Some experts claim that the actual cost is closer to $240,000! Here are some of the insidious effects of hiring unqualified employees:
The best way to deal with bad hires is to do your best to avoid them in the first place. Here are a few steps you can take to help you avoid the cost of a bad hire:
Hiring a fantastic business coach is an excellent way to avoid the Armageddon of the cost of a bad hire. So schedule a call to receive a free coaching session to learn more about building the right team for your business and avoiding costly mistakes.
Coach Dave
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