A recent report revealed a striking statistic – 40% of new hires leave their jobs within the first 18 months. As an employer, have you considered how much money high turnover is costing your organization?
The direct costs of recruiting and onboarding new hires are substantial. When you factor in reduced productivity, negative morale, lost revenue from unfilled roles, and lost institutional knowledge, the real price tag is staggering. By some estimates, a bad hire can cost over $150,000.
What if you could significantly reduce that 40% failure rate? Even decreasing it to 30% or 20% would represent massive savings. More careful hiring processes can enable these improvements, yet many recruiters don’t optimize for retention.
In fact, choosing candidates based on fit and long-term potential instead of just skills can greatly boost retention. Adjusting assessments to include motivation, culture alignment, and resilience predicts who will not just do the job well but thrive for years to come.
Rather than leave it to chance, proactively build an effective hiring process. Assess candidates thoroughly, ensure hiring managers collaborate closely with recruiters, and choose people with care – your organization’s performance depends on it. Reduce bad hires from 40% to 10%, and gains could tally in the millions.
Interested in evaluating your current practices? Book a call Contact me to audit your recruitment process or demonstrate my retention-focused candidate assessment system. Small adjustments yield tremendous ROI – let’s discuss how to apply them effectively for your organization.
