Have you ever calculated the true cost of a bad hire?
When an employee leaves your business within their first year, it typically costs around 3.5 times their annual salary. This has a detrimental effect on your business.
Our exclusive bad hire calculator utilizes up-to-date data and advanced algorithms to demonstrate the potential savings your business could achieve by enhancing your recruitment process and selecting the right candidates.
It Costs More Than You Think...
*Results based on formulas from Perfect Match (Making the right hire and the cost of getting it wrong) Study researched & published by the Recruitment & Employment Confederation (REC)
Visit us at www.innotechrecruit.com
How the best measure success
Good companies measure their employee turnover, but great companies always measure their new employee retention rate and look for ways to mitigate the risk of someone leaving during their first year.
Here’s why…
They recognize that the lowest ROI occurs within that first 12-month period and understand the true cost of a bad hire is approx. 3.5 x salary. This means that a £100k hire, who leaves before their 1st year anniversary, can cost the business over £350k, and that’s terrible for their bottom line.
Innotech Recruit Limited
Innotech House, Beaminster Road, Stockport, Cheshire, SK4 3HT, United Kingdom