Part 2 of our early-findings series for CEB Recruiting’s 2013 feature research. (See Part I.)
We asked thousands of hiring managers globally a simple question: what percentage of hires on your team do you think are “bad” or “regretted decisions”?
The answer we got was very surprising: more than one in five. Hiring managers are admitting that 20% of their team shouldn’t have been hired in the first place.
The underperformance and new hire turnover that comes from making bad hires has significant costs. There are the hard costs that hit Recruiting; essentially for every bad hire that leaves, Recruiting’s cost to fill (and refill) that position doubles. But there is also the cost to business profitability and “soft” costs, like lack of trust in Recruiting among hiring managers and line leaders.
We’re in the middle of calculating the true costs of these bad hires. What do you think is driving these poor hiring decisions?
The team here at CEB Recruiting is hard at work on our feature insight for 2013 on Selecting High-Quality Hires in Today’s New Work Environment. CEB Recruiting members can register to see the first release of the findings in our webinars on 6 June and 20 June. Heads of Recruiting in the membership can register for one of our Annual Executive Retreats to spend a day with their peers discussing this topic.