What Can an Unqualified Hire Cost You?

Most business owners have been here at some point: you just realized your new hire is not as qualified as you thought. This could be a nightmare if you spent time and money sourcing the new candidate. What can hiring someone who is unqualified actually cost you? Hiring Expenses First and foremost, it costs business’ money to find and source new employees. It can cost about $4,000 per new hire, on average. An unqualified candidate typically takes up more time and resources than a new hire who is well-versed in the industry. Training takes time and money as well. Small businesses spend about $1,500 on training a new employee. Each time an unqualified candidate is brought onto the team, that money is being wasted. Once you find a candidate who is qualified, you will need to train them. New Employee Salary When you hire someone new, you are paying a new salary. Sometimes ......