A CareerBuilder survey reveals insights into the cost of bad hires for employers. The survey included 2,257 full-time hiring and human resource professionals and 3697 full-time workers.
Here are the most meaningful findings:
- Three out of four employers have made a bad hire.
- The average cost of the bad hire is approximately $14,900.
- The average cost of losing a good employee because of a bad hire is estimated at $29,600.
- 37 percent responded that a bad hire has hurt productivity.
- 32 percent stated they have lost the time taken to recruit and train a new worker.
- 31 percent say a bad hire hurt the quality of work.
"Nearly Three in Four Employers Affected by a Bad Hire, According to a Recent CareerBuilder Survey" prnewswire.com (Dec. 07, 2017).