How much are bad hires costing you?

Use our calculator to work out how much money you're spending on hiring the wrong people

Factors to Consider

Direct Financial Costs

The logistical costs of hiring a replacement candidate
  • Cost of sourcing new candidates including advertising and agency fees
  • Interviewing / assessment costs
  • New hire training costs
  • Cost of HR processes including contracts, on-boarding etc.
  • Lost wages from labour turnover

Loss of Productivity Costs

The costs in relation to team productivity output loss affected by the bad hire
  • The time other people spend covering for the bad hire after they leave
  • The time spent training and on-boarding the new hire
  • The time the team manager spends interviewing for a replacement
  • The time during which the bad hire is potentially slowing other team members down

Opportunity Costs

The opportunity costs to a company when a new hire fails
  • Time spent with an underperforming employee in the role
  • Time spent with nobody in the role
  • Time taken getting a new hire to optimal productivity

The Calculator

Want a Customised Calculation?

 

The cost of bad hires varies across industry sectors. Using the latest data from Oxford Economics, we’ve modelled the cost of bad hires across different industries. 

Submit your details below to get a personalised quote of the cost of bad hires in your organisation.

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CEO, ThriveMap