The Cost of a Bad Hire Can be More than You Think

Effectively evaluating applicants during the hiring process is a crucial step in the success of any organization. Whether it’s for an executive role, middle management, front-line, or even a volunteer, making the correct choice among a sea of applicants can either increase the upward trajectory of your organization or have it take a step back.

The costs of a poor hiring decision can have damaging and lasting effects. The U.S. Department of Labor estimates that the average cost of a bad hiring decision can equal 30% of the individual’s first year of potential earnings.

And that can be just the beginning of the costs associated with a poor hiring choice. They can also include:

  • Lost productivity
  • Low morale
  • Negligent hiring lawsuit
  • Negative public opinion and damage to your brand

With the costs of a bad hire established, it should be incumbent on any employer or volunteer organization to use all the tools at their disposal to lower the risk. One popular and effective tool is background screening. Background screening can provide the information you need to make tough decisions.

  • Verify employment and educational history
  • Check for any criminal past
  • Establish that the candidate maintains a drug-free lifestyle
  • Professional references
  • Credit and civil reports
  • Review driving records and much more

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With past surveys reporting that up to 58% of all candidates have lies and/or embellishments, it’s vital to look past the resume to verify your candidate has the background they claim to have.

Choosing a background screening provider can be a daunting task with so many choices available. While the costs associated with using background screening should be a concern, the larger concern should be is your background screening program doing what it’s meant to do? Is your program effective in providing up-to-date information, in a comprehensive, legally compliant, and timely manner?

When evaluating providers here are a few questions to consider.

  • What’s their commitment to legal compliance? Do their words match their actions?
  • Are their client service teams set up to help you succeed?
  • Do they have the technical expertise to solve any problem?
  • Are they providing the tools to increase your own knowledge of the industry?

Why IntelliCorp? Come find out.

Simply providing you access to their services should only be the beginning. A commitment to providing you the tools to get the most out of your screening program is what you need to be looking for.

Watch our brief video on how IntelliCorp approaches background screening. We think you will find it interesting and informative.

A little more about IntelliCorp:

  • Accredited with National Association of Professional Background Screeners (NAPBS)9-time winner of HRO Today Baker’s Dozen spotlighting excellence in industry
  • 12-time selectee of Workforce Magazine Hot List for Screening Providers
  • Certified Great Place to Work recognizing company culture

Here is a link to another article you may find helpful concerning how to handle and avoid a bad hire.

Look at some more staticstis concerning the cost of a bad hire.

Visit our resource page. IntelliCorp is with you every step of the way.

Want to learn even more? Let us know! We’d love the chance to get to know you.


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