When you have the perfect candidate for an opening your client gave you, but the candidate is at the top end – or higher – than your client’s stated pay scale, it can be hard to convince your client to budge. But as the saying goes, you get what you pay for.
Poor hires can result in lost productivity and expenses in hiring, recruiting, and training replacements. A survey by the Society of Human Resource Management (SHRM) found that the average cost per hire is just over $4,000. But, the average cost of a bad hire is up to 30% of the employee’s first-year earnings according to the U.S. Department of Labor. However, The Undercover Recruiter reports bad hires can cost as high as $840,000 in expenses, due to hiring, retention and pay. Read the rest of this entry »