It’s no great secret to making the wrong hire for your organization can be costly. According to research from two studies (one done at Harvard Business School and the other by CareerBuilder), the turnover cost to the organization of these bad hires ranges from $12,500 to more than $50,000. The real cost, however, can be much higher when you factor in legal fees, litigation costs, fines, loss of customers, or exit of other employees because of the toxic employee. And that’s before we even talk about your lost productivity and time!
For those of you in the tech space, the cost to be drastically higher. As David Moise points out in today's article,
“The individual programming mistake can be costly, but the behaviors of the software developer can be even more costly. Just take the example of the person responsible for the bad design affecting the iPhone 4’s antennas (Antennagate), or the example of the engineer that was responsible for the exploding Samsung Galaxy Note 7. “
Drawing further upon David's example, poor engineering and quality control led to the demise of an entire flagship product for Samsung. Can your organization withstand the elimination of an entire product line? Food for thought, for sure…
Thankfully, there are solutions. Partnering closely with a trusted, consultative-oriented recruiter and/or your talent acquisition team can make a huge difference. After all, when you have a toothache you don't go to the podiatrist, do you? Listen to the people that do this type of hiring and talent acquisition every day.
If your organization is in any way associated with hiring in the tech vertical, I strongly encourage you to read today's article from David Moise: Hiring These 5 Programmers Could Cost You Big. It's a great read!