The Baffling Costs of a Bad Hire [Infographic]

It’s not uncommon for a friend or two of mine who have internship or entry-level experience to pout after a potential employer rejects them for positions that require two or more years of professional experience.

They’ll say something along the lines of, “Why won’t employers take a chance on me? I’m talented. I can do that job.

While I agree that my friends are highly talented in their fields of choice (and I entirely recommend taking a chance on them), understanding why employers are hesitant to take risks on young professionals is as easy as examining the infographic below.

The infographic created by Resoomay explores the baffling costs of making a bad hire. Check out a few of the infographic’s startling statistics:

  • Between hiring costs; total compensation; cost of maintaining the employee; disruption costs; severance; and mistakes, failures, and missed business opportunities, an employer’s average cost of a second-level manager bad hire is $840,000
  • The average cost of a new employee (not including training costs) is $57,968
  • In 2009, estimates show U.S. organizations spent $125.88 billion on employee learning and development
  • For a small business with only 64 employees, the cost of turnover is just shy of $8,000

When the costs of a bad hire are this baffling, is it any wonder employers think twice before taking hiring chances?

An infographic depicting the outrageous costs of a bad hire

Should potential employers take a chance on you despite the baffling costs of a bad hire? Tell us why in the comment section!

 

For this post, YouTern thanks our friends at ComeRecommended!

About the Author: Lisa Gulasy graduated Summa Cum Laude from Kent State University May 2012 with a B.S. in public relations and a minor in advertising. Prior to joining the Come Recommended team, Lisa held two agency PR internships and a corporate copywriting internship. Lisa’s diverse studies and work background have given her proficient skills in copywriting, account management, design, public speaking, video editing, social media, customer service, event planning and more.


This entry was posted in Job Search and tagged , , , , . Bookmark the permalink.