Cost of "wrong fit" Employees
What does it cost you to hire the “wrong fit” employee?
Take a few minutes to calculate what it costs for ONE wrong fit employee using our cost calculator. We have created a calculator tool that focuses on three main areas; Hiring costs, Managing & Training costs, and Termination & Opportunity Losses so you can determine what it costs your business for each bad hire.
Bad Hire Stats
- The average cost for each bad hire can equal 30% of that individual’s annual earnings!
(US Department of Labor) - In a given year, 69% of employers are affected by bad hires, and that is costly. How costly?
41% of owners say it cost them at least $25,000, and 25% say a bad hire costs them $50,000.
(CareerBuilder) - A study tracked 20,000 new hires, 46% of them failed within 18 months. But more surprising
than the failure rate, was that new hires failed 89% of the time for attitude reasons and only
11% of the time for a lack of skill.
(Leadership IQ) - 43% of new hires quit within the first 90 days!
(Work Institute)
