Hiring the ‘right’ candidate is sometimes harder than it seems.
Hiring someone who is not the right fit or doesn’t have the required skill set can be quite costly for your organization. A survey from CareerBuilder shares that the cost of a bad hire could go as high as $15,000!
This is because all the small costs add up – like the money spent on advertising the job, resources involved in the recruitment process, training expenditures, salary paid during the probation period, etc.
Other Factors That Require Consideration
According to an HRSC survey, it can cost you over $40,000 to replace an executive employee and up to $10,000 to replace an entry- to mid-level employee.
While these costs are significant, the cost of a bad hire is beyond just a simple number.
Especially as your organization, like many others around you, is dealing with the impact of COVID-19.
Bad hires affect everyone around them. They can negatively affect employee morale and productivity, drive away clients, impact your organization’s reputation, may lead to an increase in staff turnover, and the list goes on…
This is why having a well-thought-out recruitment strategy is essential.
Why Should You Opt for Background Checks?
Some industries do not have any legal requirements when it comes to performing background checks. This is particularly true for entry-level positions or roles in retail businesses, restaurants, and other similar organizations.
However, as we have discussed previously, to prevent the negative impact of a bad hire, you should consider performing background checks.
This also significantly reduces your liability risks and the possibility of negligent hiring lawsuits.
Preventing a Bad Hire
There are a number of pre-employment screening options available to you today. For instance, you can:
- Verify the candidate’s employment history and education history to ensure that they have the experience and credentials they say they do.
- Get a reference check done to evaluate attitudes, personality traits, ability to work in a team, and more.
- Perform a criminal background check to ensure that the potential employee does not have any serious offences on their record.
These checks can help you get access to information that can help save costs and ensure that you hire the person who’s right for the role and your company!
At Triton, we offer comprehensive pre-employment screenings that minimize risks and improves the quality of hires. Learn more about our custom solutions for businesses by calling 1-844-874-8667 or visiting https://www.tritoncanada.ca/business.