We all know companies can’t afford to keep making hiring mistakes; but with almost three-quarters of companies (74%) admitting to hiring the wrong person it is clear it still happens. The cost of a bad hire can have a lot more impact than just the cost to replace them. It’s more than just monetary cost and impact on the the bottom line. With ramped up competition for fewer candidates, it’s more important than ever to avoid a hiring mistake. The truth is a lot of employee turnover has to do with poor hiring decisions.
Companies make hiring mistakes for many reasons. Some of the most common include:
Making a hiring mistake is one thing, and failure to correct the mistake can continually cost your organization in many ways that exceed the costs to replace a bad employee.
A bad hire can have a negative impact on:
IQ PARTNERS is an Executive Search & Recruitment firm supporting clients across the country. We help companies hire better, hire less & retain more. We have specialist teams of recruiters in Technology (IT), Accounting and Finance, Consumer Goods, eCommerce and Retail, Financial Services and Insurance, Startup, B2B and Industrial, Operations and HR, Professional Services and Legal, Media, Digital and Marketing, Pharmaceutical and Life Sciences, Emerging Technology and Telecom, and Sales. IQ PARTNERS has its head office in Toronto and operates internationally via Aravati Global Search Network. Click here to view current job openings and to register with us.
Mark leads Canada’s largest Marketing Communications & Media recruitment practice. Leveraging close to two decades of industry experience in the Marketing Services and Agency businesses, he has been responsible for hiring, developing, and retaining top talent as Vice-President with companies such as Young & Rubicam, Wunderman, and J. Walter Thompson.