Bad hires not only cost huge amount of money but also a lot of time is wasted in acquiring the work force. It also turns away the potential hires for the position and ignores the rest in the talent pool. One aspect of the recruitment process is that keeps the good hires and let go off the bad hires before they become a liability for the company. Nonetheless knowing the differences between the good and the bad can sometimes be tricky.
If the hiring is broken or only fistful of talented skilled candidates are visible then the truth of the matter is that more than 40% of the skilled workforce is ignores in the talent pool. Sometimes recruitment is more like a numbers game, where the smaller the numbers, the smaller are the choices and lower the quality of the hire. In situation where there is a 40% ignorance it only tends to backfire one own hiring efforts.
According to Recruitment researches, it has been observed that more than two thirds of the U.S employees say that bad hires negatively affect the businesses. Individual clients who turned out to be poor cultural fits for the company with poor performances and also cost business the time and money. A bad hire always cost upwards and business is overall affected as productivity drops down due to a bad hire. When the losses are large, it is advisable to take time out to find the best people for the position instead of hiring fast to fill the requirements.
One of the ways to ensure that the new hire is worth the recruiting effort is to invest in new hire orientation. New hire orientation is one of the best ways to improve an on-boarding process by including activities like employee engagement and productivity improvement, which lasts for a few weeks instead of the regular three-day orientation.