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The Real ROI of a Great Hire

June 7, 2023
The real ROI of a great hire

The right hire will give you exponentially better ROI than any other investment; the wrong hire costs far more than just salary

Hiring the right people is one of the most important decisions a business can make. A good hire can bring new ideas, energy, and enthusiasm to the team, while a bad hire can disrupt productivity, morale, and even company culture. 

The cost of a bad hire can be significant. In addition to the salary and benefits that you pay them, a bad hire can also cost you in lost productivity, wasted resources, internal disruption, and potentially damage to your company’s reputation. Plus, keeping a bad hire may cause your good people to look elsewhere. 

Benefits of Finding the Right Fit

But the right hire can provide so much more than just “doing their job” adequately: they can 

  • Add to a healthy company culture  
  • Help grow your business’s top line/bottom line 
  • Achieve vital business goals 
  • Bring fresh insight to solve chronic problems or challenges 

Use a thorough and consistent hiring process that includes not only interviews but also other data points like reference checks, skills assessments, or personality assessments. You need multiple different types of data to make a truly well-informed decision. And don’t be afraid to walk away from a candidate. Consistent process is important – many companies treat candidates differently at different times during the life of the hiring process, or when they come via different sources, which makes it impossible to compare candidates properly and often results in missed signals (good or bad). 

The right hire can make a big difference in the success of your business. Don’t take the hiring process lightly. 

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