Carl Henry - Henry Associates

You’ve probably heard or read that a company, on average, loses three times the salary of a new hire that doesn’t stay with the organization.  That’s a pretty scary number, if you ever take the time to think about it; especially when you consider how few hires work out.  To make matters worse, that figure might actually be a bit low.

Finding new people isn’t cheap.  Even after you’ve run ads online or in papers, you probably spend hours or days digging through resumes arranging interviews.  To that you can add the costs of background checks, airfare, hotels, and other expenses.  And, of course, once you choose the right people, you’re on the hook for their salary in training, which can run several times their first year’s income.

And all of these ignore the biggest expenses of all - the wear and tear a bad hire puts on your customers and staff. Often, it’s months or longer before you know whether your new person will pan out.  Using hiring assessments is a great way to cut down the risk of a bad hire and save your company some money.