Are you ready to make a hiring decision for your healthcare team?
What happens when that employee doesn’t live up to the expectations from the interviewing process? Today’s job market, especially in the healthcare industry, is exceptionally competitive so it can be easy to make a mistake with a new hire. The cost of a bad hire goes far beyond their annual salary. Sometimes this problem is cause by hiring too quickly or by letting top candidates slip through the cracks.
Here are some of the costs of a bad hire. The more you know, the easier it will be to avoid a problem.
A Bad Hire Can Cost Up to $50,000 Extra
In an online survey, Careerbuilder shared that 41% of companies who experienced a bad hire spent at least $25,000 in the process. For 25% it was $50,000. Not only are these numbers reflective of the salary but also lost revenue, bad productivity, and costs related to hiring for a second time.
Both Direct and Indirect Costs
When we refer to the costs of a bad hire it is important to understand how these numbers breakdown. Lost productivity, training time, recruiting and training expenses, employee morale problem and negative feedback from patients and customers can all be affected by a bad hire.
How Does a Bad Hire Happen?
Bad experiences can happen for a variety of reasons. Most often it is due to rushing the process to hire someone quickly. Important processes can be skipped that would alert you to red flags. Background checks, reference checks, and other prescreening can be ignored. Sometimes the candidate doesn’t live up to the potential of their resume or interview. Skills were overstated, which can be determined through candidate testing.
What are the Signs?
Once someone is onboard the signs can come quickly. A new employee may be unable to keep up with the pace of your heal care environment. An employee who does not work well with the rest of the team can cause not only their work to suffer but the work of others. Problems with attendance and arriving late can start happening immediately. Patient care can also be a problem.
Avoid a Bad Hire
Before you find yourself in this situation it is important to note what you can change in the hiring process to mitigate a problem. Conduct effective interviews by asking behavioral questions. Check their references thoroughly. Provide training for the job and the facility culture. If you have any concerns, consider working with a staffing agency who can offer a temporary to hire agreement to assess a candidate while they’re working on the job.
Do you want to prevent bad hires in your facility?
Contact Fortus Healthcare Resources today! Experts in assisting the medical industry with its hiring initiatives, we have the skilled team in place to help your grow your workforce.