{"id":28513,"date":"2017-05-12T13:46:01","date_gmt":"2017-05-12T17:46:01","guid":{"rendered":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?p=28513"},"modified":"2017-05-12T14:26:27","modified_gmt":"2017-05-12T18:26:27","slug":"business-report-cost-mis-hire","status":"publish","type":"post","link":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/05\/business-report-cost-mis-hire\/","title":{"rendered":"Business Report: The Cost of a Mis-Hire"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-20376\" src=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2014\/10\/cruz20photo20c-233x300.jpg\" alt=\"\" width=\"233\" height=\"300\" srcset=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2014\/10\/cruz20photo20c-233x300.jpg 233w, https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2014\/10\/cruz20photo20c.jpg 575w\" sizes=\"(max-width: 233px) 100vw, 233px\" \/>To understand why the hiring process is so important, we need to examine what it costs when we make a mistake.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">There are hard dollar and soft dollar costs. There is the cost of advertising and recruiter fees. These are Direct Hiring Costs. When you must replace someone, you need to do this all over again, and the original costs are never recovered.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Then there is the issue of what you paid that person while they were in your employ. The actual salary or hourly rate PLUS the 20-30% benefit load PLUS any expenses they incurred that were reimbursed. Add in what you paid to have their computer and cell phone set up, and costs for other tools. Add in what you spent for outside training courses. Add in any severance expenses. Severance can be minimal if they were not there long. However, when you linger in your decision, you are \u201crunning up the meter\u201d.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Indirect costs are harder to quantify. Yet, they are far greater. You will need to take time to coach these people. And to listen to complaints about them. That negative energy, drags us all down. Not only is the actual time spent wasted, it makes us less productive at the work we like to do.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">It affects not just managers, but other employees as well. They will spend time complaining about your mis-hire. Often, they will have figured it out before you finally admit it to yourself. If they are in a customer facing position, they may have made life bad for a customer or client. You need to spend time repairing that damage. Lastly, they probably missed signals and lost some opportunities to pursue better initiatives that a productive hire would have seen.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><!--more-->Figure out how much your last mis-hire cost you. Use a specific example and this will come more alive to you. As you see, the numbers can be quite large. This is the most compelling reason for getting hiring \u2018right\u2019 in the first place.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">\u201cIf you do not have time to do it right now, where will you find the time to do it again?\u201d<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To understand why the hiring process is so important, we need to examine what it costs when we make a mistake. There are hard dollar and soft dollar costs. There is the cost of advertising and recruiter fees. These are Direct Hiring Costs. When you must replace someone, you need to do this all over [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Business Report: The Cost of a Mis-Hire - Glens Falls Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/05\/business-report-cost-mis-hire\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Business Report: The Cost of a Mis-Hire - Glens Falls Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"To understand why the hiring process is so important, we need to examine what it costs when we make a mistake. 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When you must replace someone, you need to do this all over [&hellip;]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/05\/business-report-cost-mis-hire\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Glens Falls Business Journal\" \/>\r\n<meta property=\"article:published_time\" content=\"2017-05-12T17:46:01+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2017-05-12T18:26:27+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/wp-content\/uploads\/sites\/109\/2014\/10\/cruz20photo20c-233x300.jpg\" \/>\r\n<meta name=\"author\" content=\"Jake Van Ness\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Van Ness\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/05\/business-report-cost-mis-hire\/\",\"url\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/05\/business-report-cost-mis-hire\/\",\"name\":\"Business Report: The Cost of a Mis-Hire - Glens Falls Business Journal\",\"isPartOf\":{\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#website\"},\"datePublished\":\"2017-05-12T17:46:01+00:00\",\"dateModified\":\"2017-05-12T18:26:27+00:00\",\"author\":{\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/05\/business-report-cost-mis-hire\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/05\/business-report-cost-mis-hire\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/05\/business-report-cost-mis-hire\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Business Report: The Cost of a Mis-Hire\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#website\",\"url\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/\",\"name\":\"Glens Falls Business Journal\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86\",\"name\":\"Jake Van Ness\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/8083519989e12032abdd06a668982ef4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/8083519989e12032abdd06a668982ef4?s=96&d=mm&r=g\",\"caption\":\"Jake Van Ness\"},\"url\":\"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/author\/jakev\/\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Business Report: The Cost of a Mis-Hire - Glens Falls Business Journal","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.glensfalls.com\/glensfallsbusinessjournal\/2017\/05\/business-report-cost-mis-hire\/","og_locale":"en_US","og_type":"article","og_title":"Business Report: The Cost of a Mis-Hire - Glens Falls Business Journal","og_description":"To understand why the hiring process is so important, we need to examine what it costs when we make a mistake. 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