How Much Does A Bad Hire Cost?

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How Much Does A Bad Hire Cost?

2017-06-22T10:17:51+00:00 June 21st, 2017|Company News, News, Recruitment|

Businesses throughout Cambridge and across the UK are finding it increasingly difficult to match the perfect candidate for the job. With the unemployment rate in the UK being at it’s lowest since the 1970’s its no surprise that the demand for staff is increasing and poor recruiting decisions are becoming more likely. So at aspire cambridge we know the importance of finding the right person for the right job.

Could your recruitment decisions be costing you?

In a recent survey it was found that nine out of ten respondents believe that their company had made bad recruitment decisions. The implications of these poor choices impact even the highest management level despite the belief that it does not cost anything to hire the wrong person for the wrong job. The REC state that a poor hire at middle-management level at a salary of £42,000 could end up costing a business £132,015 in total to resolve (REC) The reasons for the difficulty in finding the ideal candidates for a vacancy range from the lack of time to and only accessing a small talent pool, missing out on the specifically skilled profiles. Being real with the real people you hire is vital to the success of your hiring and the financial impact of your business.

What Are The Real Impacts Of A Bad Hire?

Resourcing the talent for any industry requires businesses responding to their challenge and using responsive approaches to the trends in the recruitment industry. 85% of HR decision-makers admit their business made a bad hire and the financial impacts are not short term (REC). The process of hiring the wrong person could create issues with training costs, negative staff morale, recruitment costs. The value of a bad hire to any organisation has implications which affect the whole work force and companies will need to invest in people and resources to counteract the financial loss. Its important to be proactive in your search for a candidate and with our specialist and expert services at aspire cambridge we save you time and money.

How Recruitment Agencies Benefit Your Company

The recruiting and hiring process is time consuming, challenging and often demotivating. At aspire cambridge we have industry accredited and credible recruiters who find you the best candidate for the job. We know who will best benefit your company saving you time and money. Working with both you and the candidates we ensure both parties know what to expect from each other, the job role, the brand and the responsibilities included in the job role. aspire cambridge understand your needs and offer solutions to ensure that expectations are achieved. Our services are guaranteed – want to know more? Why not call our professional team of recruitment consultants here at aspire cambridge on 01223 855440 to see how we could benefit your business.

aspire cambridge are experts in recruitment and human resource services. We work with a diverse collection of industries from engineering and manufacturing, finance and accountancy, hospitality, information technology, legal and hr, manufacturing, office support, and sales and marketing. From taking on your first employee to managing your greatest resource – people, we’ve got it covered; from recruitment to human resources we pride ourselves on “placing people first”. We work with major brands to small growing businesses across East Anglia, the UK and internationally.