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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