Much has been written about the benefits of hiring the right job candidate for your open positions. Less understood is the full impact a poor hiring decision can have on an entire business, even long after the offending employee is gone.

1. Both small and large businesses
can struggle to hire the best and
the brightest employees.
BUT WHAT IS THE COST
OF A BAD HIRE?
A bad hire can affect your
bottom line, company morale,
and much more:
THE HARD COSTS TO THE BOTTOM LINE
INDIRECT COSTS ALSO ADD UP
150% of an employee's
salary to replace
him/her in your
workforce
$
1,200
to train each
employee
11%
of CFOs reported
lower sales
THE
DAMAGING
OF A BAD
HIRE
CO TCO TCO T
17%
of companies
reported supervisors
spending one day a week
managing poor employees
13%
of companies lose
half or more of
new hires within
the first year
Bad Hires May Lead to:
57%
22 days
of job openings take
3 months or more to
be filled
Nearly 30%
of companies reported that it
takes over a year for new
employees to reach full
productivity
Paychex FlexSM
Hiring helps untangle
and streamline complex hiring processes.
Your team brings its knowledge of the
business and current procedures, and
our team brings powerful technology,
an end-to-end infrastructure,
and personal service.
Average time to
complete the
interview process
• Reduced morale
Time to Refill Roles in Your Company
Hire BetterHire Better
To learn more, call 855-973-2460
or visit payx.me/BadHire.
• Undermining of
business brand
• Increased
overtime and
burnout
• Reduced
organizational
experience
• Weakened relationships
with clients
The forgoing is provided for informational purposes only and is believed to be accurate
at the time of its release.
© 2016 Paychex, Inc. All rights reserved.
Sources:
www.investopedia.com/financial-edge/0711/the-cost-of-hiring-a-new-employee.aspx
www.roberthalf.com/cost-of-a-bad-hire
www.brazen.com/blog/archive/job-search/heres-long-real-
ly-takes-employers-fill-open-positions/
www.glassdoor.com/research/studies/time-to-hire-study/
hriq.allied.com/pdfs/AlliedWorkforceMobilitySurvey.pdf
www.paychex.com/human-resources/