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The High Cost of Hiring Mistakes: It Pays to Get It Right

Updated: Sep 23, 2023

Picture this: you're putting together a complex jigsaw puzzle, and one of the pieces simply doesn't fit. It disrupts the whole picture, leaving you with a frustrating gap. The same principle applies to hiring within a team. Employing the wrong person for the wrong role can have catastrophic consequences, affecting not only the immediate job but also the dynamics, culture, and overall success of your team. It's a reminder of just how crucial it is to get the hiring process right from the start.

According to CareerBuilder, a staggering 75% of employers confess to hiring the wrong candidate for a job opening. That's a significant majority, and the repercussions are severe. Companies, on average, lose approximately $18,700 for each bad hire. These costs extend far beyond mere financial figures; they include the toll on team morale, customer satisfaction, and overall stress levels.

Hiring mistakes send ripples throughout an organization. They lead to reduced employee morale, lower levels of customer satisfaction, and increased stress among the team. But it doesn't stop there. Bad hires can also undermine the quality of the work itself, potentially tarnishing your organization's reputation. In an era where online reviews and word-of-mouth recommendations hold immense power, one bad experience can echo far and wide.

The Future of Hiring

The future of hiring is poised for growth. The U.S. Bureau of Labor Statistics predicts that by 2031, the United States will add a substantial 8.3 million new jobs. This makes it more critical than ever to have a solid hiring strategy in place. Each new hire can significantly influence your organization's direction, for better or worse.

Consider this: a workplace where employees merely show up to collect a paycheck is a bleak place indeed. Thriving teams are those fueled by motivation beyond monetary compensation. It's the shared vision, loyalty, and genuine engagement that truly propel an organization forward.

At Increase Your Impact, we understand the multifaceted challenges of hiring. We're here to help you find not just any candidate, but the right one—those who align with your company's culture and values. We believe that every new hire should be a positive contributor to your organization's growth.

One of the fundamental pillars of our mission at Increase Your Impact is to help organizations create dynamic teams, and that all begins with the hiring process.

We'll assist you in strategizing the specific talents and strengths needed for various positions within your organization. You'll gain the insight to identify the ideal candidates, ensuring they not only excel in their roles but also find genuine fulfillment in their work.

A Client’s Story

One organization contacted us about an employee they loved having on their team. She had an unwavering passion for the organization yet also had a persistent feeling of emptiness in her role. She understood the mission, felt its significance, yet couldn't escape the gnawing sense that something vital was missing. They contacted us, asking us to help discover what type of role would fit her best.

As we took a look at her Clifton Strengths list and asked her questions, it became increasingly evident why she struggled to find her sense of purpose in her current role—it simply wasn't the right fit.

Because her current role was more focused on connecting with many people through small talk, this hindered her from being able to make deeper connections - keeping her from leading with her high Relator and high Developer themes. In the same way, only being focused on connecting with people neglected other high talents for her such as Consistency, Discipline, and Responsibility. As important as her current role was for the organization, it was draining her energy and enthusiasm. In the end, we knew that this wouldn't be beneficial for her or the organization.

Through thoughtful questions and a deep examination of her Clifton Strengths assessment, key areas where she naturally excelled came into focus.

Come to find out, the organization was already in the process of forming a new team, and there was a role within it that would fit her strengths perfectly!

Fast forward several months, and the transformation was nothing short of remarkable.

She described her journey as transitioning from "living a life in black, white, and grays" to one of "bright colors.”

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