Right now employers in nearly every sector are finding it increasingly difficult
to attract people to the jobs available. The UK’s unemployment rate is the lowest
since the 1970s, meaning demand for staff is increasing as our talent pool shrinks.
When candidates are scarce, employers can be tempted to make hasty hiring
decisions. While being fast is sometimes no bad thing, if it leads to poor hiring
decisions it can be very costly. Employers are completely underestimating the financial impact of getting recruitment wrong and are not seeking to improve their processes and practices, so that they make fewer mistakes and get it right more often.
Nine out of ten HR professionals have worked for a business that hired the wrong person for a job: bad hires are not isolated incidents but frequent occurrences. Employers clearly don’t fully understand the costs of a bad hire, they fail to measure its damaging impact and they don’t learn how to avoid it next time. This behaviour is putting the success of UK businesses at risk.
This REC report will help you understand and assess the cost of a bad hire and
help you improve your recruitment decisions.
Download the report