“The most expensive person you’ll ever hire is the one you have to fire.“
If it seems like more trouble than it’s worth to set a high standard, do a thorough job, and hire tough, here are just some of the repercussions if you don’t:
- When you factor in recruiting, screening, interviewing, hiring, and training, it costs approximately 300 times a person’s hourly wage to hire one new employee. (You do the math. How many times a year can you afford to lose that kind of time and money?)
- If you don’t screen for attitudes, it can have a significant impact on customer loyalty. According to one oft quoted study, 68 percent of the customers who stop associating with a business do so because of an employee’s attitude of indifference toward the customer.
- Poor hiring decisions are also costly in terms of lost profits, missed opportunities, decreased productivity, increased stress, and lower employee morale.
This was originally published on Mel Kleiman’s Humetrics blog.