How One Bad Hire Can Cost You Thousands

Why hire a professional plastics recruiter? A blog about the benefits of hiring a recruiter to filter resumes, screen candidates, and shortlist top talent to save your company thousands.

bad hires cost thousands

We will start with some eye-opening data:

A bad hire can cost a company 30% of the hire’s first-year salary, according to the U.S. Department of Labor.

34% of CFOs said bad hires cost them productivity and 17% of their time is spent supervising poorly-performing employees, according to a study by Robert Half International. We did the math, that is almost one full work day out of a 5-day workweek.

74% of companies stated their bad hire cost them an average of $14,900, according to a survey by CareerBuilder.

But, there is a silver lining.

Hiring a recruiter for your job search is a way to avoid wasting thousands. The longer the open position stays unfilled, the more money a company loses. The worse hires a company onboards, the more time is wasted on supervising the under-performing employee. Time is money and these bad hires can add up.

Benefits of using a recruiter:

  • Time: With their experience and quick access to industry leaders, recruiters reduce the amount of time it takes to fill an open role. Thus, reducing the amount of money lost with keeping a job position unfilled, as well as, placing the right fit for the role the first time which leads to less money and time spent training the new employee.
  • Expertise: Recruiters are experts within their industries and are well versed in any changes and shifts happening within them. With hours of phone time every day, recruiters are thought leaders in any industry they serve. They use this advantage to present you with your ideal candidate.
  • Retention: Recruiters follow up with their hires throughout the first few months of their new job, because they are committed to their placement and are always looking for ways to improve their technique. Recruiters spend time becoming experts on the open position and company and put all their effort into finding the right cultural fit and skillset needed to fill the open position. Thus, enhancing the retention levels of newly onboarded talent.
  • Efficiency: Communication and transparency are the top priorities of the search process. Having open communication, quick scheduling, and time management are all skills recruiters possess to warrant a streamlined, quick, and efficient process.
  • Connections: Recruiters build their trustworthiness and knowledge by staying highly connected to past, present, and future candidates and clients. Recruiters have the advantage of finding talent that are considered “inactive job seekers”- those who are not actively skimming the job boards. Therefore, drastically increasing the number of potential candidates and opportunities for better talent.

Finding top talent is hard so we make it easy. With our pool of vetted industrial talent, you have the best candidate a phone call away –contact us.

We are in the business of building companies and careers and believe that your recruiting needs are as unique as your business. We have experienced professionals ready to start today!

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