The cost of a bad hire might be more than you think. Sometimes it is so subtle
that we don't even realize we are doing it, but the ramifications can be far-
reaching. What really happens when you hire anyone to fill a position, out of
desperation or frustration?
First, you all know that hiring and keeping an unqualified or unproductive
employee costs money: it costs you resources to market the position. It costs
when they don't work out and they quit, or have to be terminated. And let's face
it: they are drinking your coffee and eating your donuts, and distracting other employees.
Secondly, a poor hire means that you are actually blocking the door
(get a visual picture of this in your mind) for qualified candidates to come
through. In essence, this "roadblock" is diverting your attention away from hiring
the qualified candidate, and hindering you from filling your pipeline with fresh,
dynamic go-getters who want to work!
Third, one of the highest costs of hiring and retaining unproductive or
unqualified employees is low morale among existing employees. If your current
employees feel the standards of the company are slipping, they are going to go
where morale is high and where they can work with a group of professionals who
are called to a higher standard.