The Hidden Cost of a Bad Hire

The Hidden Cost of a Bad Hire

Hiring is hard.

But firing is even worse — it’s hard and expensive.

Sixty-nine percent of employers in a CareerBuilder study said a bad hire impacted their team negatively in the past year. Of those, 41% said it cost them more than $25,000 to recover from this choice.

Our friends in the auto industry are suffering at a greater rate than average, with an “$8 billion-plus problem.” Businesses that improve turnover can take a dominant edge over the competition purely by saving money on retention.

Here at 9 Clouds, we believe in making decisions based on data, and that data I just shared is pretty hard to argue with. Simply put, good hiring practices and retention are vital for a successful business. 

So how do you optimize your hiring process?

Candidates Care About Culture

Negative company culture does more than bring down morale with current employees. It also prevents good candidates from considering your business.

This isn’t an easy fix by any means, but it’s the most important piece to building a successful and profitable team. Ask your current employees where you’re falling short. Discuss your company’s core values. Are those values authentic to the culture or does the team just pay them lip-service?

The best candidates today want a position where their values are reflected in the company culture. Here at 9 Clouds, that means we focus on personal and professional development, we offer sabbatical leave, and we take work-life balance very seriously.

Figure out what that means for your team, and you’ll be in a better position to find new candidates who are the best fit.

Set Expectations from the Start

When you truly understand those values, it’ll be really easy to convey them to job candidates. Give applicants insight into the team culture, which will let them know what’s important to you as a business.

Ultimately, setting clear expectations and being transparent about the hiring process will give applicants all the information they need to decide if your business is the right fit.

Our team asks candidates to take certain HubSpot training courses. This explains inbound marketing at a high-level, giving the potential employee an inside look at the work we do. Anyone who isn’t energized by the HubSpot courses will know right away that 9 Clouds isn’t a good fit.

We can also dig into the candidate’s interests based on their response to the HubSpot training, determining if their professional goals meet our needs.

Pass It On

Speaking of hiring, we’re looking for a project manager right now (this position has been filled). If you know someone who would be a good fit for our team, pass this along.

We want future candidates to know our beliefs on hiring so they make an educated choice before applying!