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A bad hire is not just bad for business—it’s costly too.

An outstanding webinar from PI Worldwide. Highly recommend if you would like to reduce bad hires. If you have questions on how to apply within your organization, contact me at john@johninmandialogue.com or at 425-954-7256.

Cost of a bad hire

On average, experts estimate the cost of a poor hiring decision is equal to 30% or more of that hire’s first year’s probable earnings. Factor in productivity loss and lost opportunities, morale implications, turnover and recruiting costs and the price tag starts to swell quickly.

Fortunately, organizations can prevent the costs associated with poor hiring decisions by recognizing the challenges at different steps of the talent acquisition process.

Listen to PI Worldwide’s recent webinar: Avoiding the 7 Mistakes that Lead to A Bad Hire for expert tips and best practices on improving your talent acquisition process.

Sincerely,

Michelle Kozin

Vice President of Learning & Communications

PI Worldwide

PIWW Landing Graphic

A poor hiring decision can equal 30% of that hire’s first year earnings.


Can you afford to make a bad hire?

Organizations have the opportunity to simplify the hiring process and make far better hiring decisions if they pay attention to the talent of the applicant before they dig into the resume of the applicant. The vast majority of hiring decisions are made based on the resume of the applicant without regard to the genetics of that person. Genetics accounts for close to 55% of the success of someone placed into a position. 20% of the success is based on the resume. The underlying problem is that with one exception, there really isn’t a simple hiring model that screens for talent first before screening for resume. So organizations get stuck in the rut of hiring of based on inadequate information and putting people into positions that they are not genetically suited to do. To compound the problem, fewer and fewer applicants have a robust resume leaving recruiters and hiring managers struggling to find applicants who can excel in the position.

So what do we do about this? As organizations we cannot simply throw up our hands and continue to accept the status quo. This is where Predictive Index and cognitive assessment with Professional Learning Indicator come in. With these tools, a recruiter can screen on talent before even looking at a resume insuring that the applicants that are moved to resume screening actually have the genetics to do the job. This one very simply step can eliminate so many frustrations for an organization and reduce turnover and improve performance. This also insures that early talent applicants are not removed from consideration particularly if they have the right genetics to do the job. To see how this process looks, review this presentation on HiPo Talent and see how a very simple and cost effective simplified hiring model can transform your organization.