The Hidden Soft Costs of a hiring Mistake

The hidden soft costs of a hiring mistake often do not appear to directly affect the bottom line. These costs however can be the difference between the success and failure of an organization. Soft cost of a hiring mistake can include:

  • Lost productivity
  • Lost business opportunites
  • Increase in workload
  • Lower company morale
  • Poor customer service
  • Increased Emotional Stress for Managers
When researchers look at the validity of various hiring practices, they found that only structured interviews and validated testing provided validity numbers were significantly related to performance outcome.

Background chacks and unstructured interviews only accounted for 17% of the total variance in the hiring process.


Be purposefully about yourself and the talent you hire; it matters to your peace of mind and your bottom line,


Danny







Source for this material is from MuRF's Building an Elite Workforce manager/leadership training program. To learn more about this training and how it can help your company achieve better results, contact Danny Smith at danny@RP2Development.com or 512-773-6528

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