The Invisible Cost of a Bad Hire and How to Stay Safe?
By Archna Oberoi | 8th March 2018 | #verification importance
Most employers know that conducting background checks is an important business practice, but a very few invest their time to evaluate the candidate’s credentials. The growing demands of your business often clouds your decision to conduct a background verification. As soon as a vacancy arises, you want it filled immediately so your clients don’t suffer, or other employees don’t feel overworked. Considering how competitive the labour market is today, you probably want to lock down a good candidate before someone else grabs them up. We all get that!
However, taking a hasty hiring decision can actually hurt you, in the long run, more than you think. Here we reveal 3 impacts of a bad hiring decision:
1 . Loss of productivity
Your bottom line can be affected significantly if the employee is not suited for the job or has a negative attitude. Given the interdependent nature of most workplaces, their incompetence also affects their team members’ ability to finish tasks and meet deadlines.
2. Diminishing Employee Morale
36% of the companies said that a bad hire adversely impacted their employee morale. It is frustrating for your management team to have to deal with a new recruit who is reluctant to learn, bad at their job, or just unpleasant to work with. It’s even worse for other members of their team who might have to pick up their slack or work with their bad attitude.
3. Plunging Client Relationships
22% of companies said that a bad recruitment decision had a negative impact on client solutions. If your business is heavily reliant on client relationships, then it’s not a good idea for you to keep changing staff members that maintain those relationships. The client might feel like your business isn’t stable and won’t get the seamless experience of working with familiar faces.
Want to Stay Safe?
Let quality trump delay and perform a comprehensive background check. A thorough background check on a candidate can give you a good insight into their character and compatibility with the job. If their referees are reluctant to talk much about them, or if their qualifications speak otherwise, that would directly affect their ability to perform the role, then you have the opportunity to consider beforehand whether this hire will really work out for you.