The statistics don’t lie, especially when it comes to the costs of poor recruitment. These costs can be high both literally and metaphorically, and we will share some figures with you here to illustrate this.
As an example, the cost of a bad hire can be anywhere between 1.5 to 4 times the employee’s annual salary. In addition, UK businesses spend over £1500 (on average) for training, onboarding, IT set up, equipment and reduced productivity. That’s why it’s important to be aware of these costs and know the factors to consider.
What poor recruitment means
Choosing the right person for a particular role is important. Ensuring the correct processes and procedures are in place is the best way to avoid any resultant adverse effects.
There are a number of reasons as to why a poor recruitment choice may be made. Inadequate communication, a lack of interviewer objectivity and older technology may all play a role. Identifying the reasons that apply to your business will help you to avoid further poor choices in the future.
How to avoid poor recruitment
In order to ensure you recruit the correct person for the job, having a clear understanding of the job roles and responsibilities is a good place to start – as is including these on the job description. Following the correct interview process for your business is also important, as is being able to identify the right candidate once the interview process has finished.
Important factors to consider
There are many ways that an employer can ensure that once recruited, their staff remain positive, motivated and engaged. We have published several blogs previously that go into some of these techniques in more detail. These include the importance of retention, employee performance and the appraisal process and the topic of reward and recognition. To read any of these, please just click on the respective blog title.
There is also National Employee Appreciation Day which falls on Friday the 6th March this year. This is a day where employers can show their appreciation to their employees and how they have made positive contributions to the workplace.
If you would like to speak with us about any concerns regarding the costs of poor recruitment in your business, please feel free to get in touch.. We are also here for any questions regarding your recruitment process.
