Hiring the best person for a job is crucial to the success of a business. Yet, picking talent remains the most pressing challenge for employers. Gaining insight into employers’ experience of bad hires and identifying the real costs associated with poor hiring decisions are vital in helping other businesses avoid risks at every stage in the hiring process.
The Recruitment & Employment Confederation commissioned a HR Decision Makers Omnibus through YouGov to examine the opinions and experiences of 500 business leaders with major HR decision-making responsibilities. YouGov worked with the Recruitment & Employment Confederation to ensure the questions asked met the research aims.
The research highlighted how common bad hires are within British businesses. More than 8 in 10 respondents admitted they had worked for a business who hired the wrong person for the job.
The findings also highlighted the financial consequences of bad hires to businesses. As well as more obvious costs, such as recruitment fees, hidden costs involved in poor hiring decisions include money wasted on training, lost productivity, and increased staff turnover. The main reasons for hiring the wrong person for the job were accessing a small talent pool and an all too common need to fill positions quickly.
The Recruitment & Employment Confederation used the data in their report Perfect match: Making the right hire and the cost of getting it wrong. By reflecting on organisation-wide policies in sourcing candidates and selection, the report urges employers to consider the real consequences of a bad hire and the steps to be taken, both internally and in partnership with agencies, in order to make a successful hire.
You can read more about the report here.
About the client
Recruitment & Employment Confederation (REC) is the professional body for UK recruitment businesses. Established in 1930, representing 82% of the recruitment market place by value, the REC work tirelessly to support members in helping businesses find the people they need, while improving the standards and reputation of the UK recruitment industry.