Cost Of A MisHire – Internet Marketing Costs:

What is the real cost of a mis-hire?

You should understand this cost before you start building your own inhouse team by hiring full time employees.

This is the table

Study comprised of 52 casesNumber of years in job: 1.6Base Compensation: $102,692 Average  Statistics
Cost in hiring $31,643
Compensation (all years) $255,452
Cost of maintaining person in job $67,653
Severance $33,962
Cost of mistakes, failures; wasted and missed business opportunities** $1,232,092**
Cost of disruption $242,356
Sum of costs $1,863,158
Value of contribution $360.721
Net average cost of miss-hire $1,502,436

 The cost of a miss-hire is 14.6 times base compensation which is incredibly expensive.

 

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