A hiring mistake could cost your office more today than it would have a year ago. New research from a global staffing firm shows more than three in four senior managers surveyed (77 per cent) admit to recruiting the wrong candidate for a role, and more than half (56 per cent) said the negative impact is more severe now than it was a year ago.
Four months lost on one hiring mistake
When it comes to their most recent regrettable hire, senior managers said it took 11 weeks, on average, to realize the person was a poor match and to let them go, and an additional 5 weeks to restaff the role. That’s a total of 16 weeks, or 4 months, of time squandered on a recruiting blunder.
Companies have been forced to make swift and significant changes to their recruiting and onboarding practices over the past year as a result of the pandemic, according to David King, senior district president of Robert Half, a staffing firm.
“When new hiring strategies are introduced quickly, mistakes are more likely to happen. And, unfortunately, a bad hire can have far-reaching consequences for an entire organization,” he said.
What’s at stake for employers
Senior managers reported the biggest tolls on their teams and company as follows:
- Time wasted hiring and training the new employee
- Decreased staff morale and productivity
- Increased stress on the supervisor
“To decrease the likelihood of making hiring mistakes and build the best teams, organizations need to develop a comprehensive strategy for interviewing and assessing candidates that meets both current and emerging business needs,” added King.