Hiring the right people can be an expensive and time-consuming process. But it's all worth it if you find the right fit.
But what happens when you don't hire the right candidate?
We've built this calculator to help you find out just that. This calculator identifies the concrete and upfront costs of a hire.
These costs can be considered an investment when the hire is a good one, the ROI positive when a candidate performs well and impacts your organization's growth. But they may also become sunken and losses when there is a mismatch in skill, culture, or overall fit.
Keep in mind that there are many hidden and less obvious costs of a poor hire such as:
- Customer churn for customer-facing roles.
- Loss of company reputation.
- Negative team morale.
- A decrease in team quality standards.
- Team burn-out.
- Damage to your employer brand.
These costs are not easily quantifiable but may compound the costs of a bad hire as revealed in this calculator.