HR: How much does a bad hire really cost? You might be surprised

December 8, 2011 by Tim Gould

Even the best companies make a personnel mistake once in a while. But here’s a shocker: More than two thirds of firms in a recent survey said they’d suffered through a bad hire this year.

A new CareerBuilder survey revealed that 68% of employers were affected by a bad hire in the past year — about the same  number as 2010.

The worst part: Bad hires are expensive.

Forty percent of employers reported that a new hire typically costs $1,000 or less; 34% said between $1,001 and $5,000, and 27% put that number at more than $5,000

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