Discover the 5 Myths Sabotaging Your Hiring Strategy
Discover the 5 Myths Sabotaging Your Hiring Strategy
Discover the 5 Myths Sabotaging Your Hiring Strategy
Discover the 5 Myths Sabotaging Your Hiring Strategy
Discover the 5 Myths Sabotaging Your Hiring Strategy
Discover the 5 Myths Sabotaging Your Hiring Strategy
Discover the 5 Myths Sabotaging Your Hiring Strategy
There's no denying that hiring mistakes are expensive. Based on our conversations with clients spanning almost 35 years, we have determined that there are three primary costs that follow a poor hiring process:
DISCLAIMER: The research and mathematical models used to develop these calculations were completed by the U.S. Dept. Of Labor and supported by research within various publications including: Harvard Business Review, C.E.O. Magazine, Forbes and by the SHRM (to list just a few of the sources we reviewed). It's fair to admit that vacancy timelines, salary (and total compensation) levels, performance variables of individual contributors, the perceived importance of any individual vacancy, and other factors can affect the accuracy of the calculations. Therefore, averages were used to balance the numbers and make them as credible as possible. The principle point of the calculators is to demonstrate that you can determine a fair estimate of the costs.
The Cost Of A Vacant Position
Some leaders believe leaving a position vacant will save their company money. When examining the trickle-down cost, however, payroll savings are quickly overshadowed by other expenses.
We've created some useful tools to help our clients calculate the real cost of their vacant positions and see how it impacts the health of their business.
Cost of Rejected Offer
An offer rejection knocks your hiring process back to square one - while adding even more stress to human resources, hiring managers and the departments covering for job vacancies.
We've created some useful tools to help our clients calculate the real cost of their rejected offers and see how they impact the health of their business.
Cost of Bad Hire
A single bad hire can send negative shockwaves through the organization, costing the company upwards of 15 times their salary. The majority of this cost is due to the trickledown effect toxic employees have on the rest of the organization.
We've created some useful tools to help our clients calculate the real cost of their bad hires and see how they impact the health of their business.
Need assistance refining your onboarding process?
Want to improve your employer brand?
Have multiple roles to fill?
Leaders planning to retire?
Call us and let's talk about Recruitment Process Outsourcing solutions!
© 2021 developed by Joshua Lyons Marketing, LLC