COst of a bad hire

How much can a bad hire cost your company?

Between internal and external recruitment efforts, candidate interviews, new employee training, unemployment rate increases, stress on other overworked employees, and possibly even lost customers, the cost of a poor hiring decision is difficult to measure.

The impact of having one single employee in department that is not a good fit can be a tremendous drain on productivity and severely impact an organizations ability to retain talent. When you factor in additional costs related to exposure to theft, duplication of effort, and the inability to optimize all human resources; the potential costs multiply exponentially.

Best Case- Fraud

Accountants have long known that otherwise law-abiding people commit expense fraud. There is no such thing as an immaterial fraud; an employee who cheats on his or her expense account may also cheat—big-time—on the company’s financial statements.

WORST CASE- EMBEZZLEMENT

Kansas City area companies, big and small, have been victimized. So far in 2016, several area cases have involved thefts of more than $1 million. But unraveling the mystery of why otherwise law-abiding people steal large sums of money from their employers is often a more complicated endeavor.