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:
- The Cost of Vacant Position
- The Cost of Rejected Offer
- The Cost of Bad Hire
While each of these individually can impact an organization's bottom line, it can be especially devastating when they have a compounding effect. We've created some useful tools to help
our clients examine the detrimental effects of these costs, and to showcase the ways in which Ropella's services can save organizations in the long run.
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.
