The true cost of a Mis-Hire in relation to even a mid-level Executive, can far outweigh the entire cost of a Recruitment Project! Most people would think – “well it’s just the cost of the salary!” If only it was…..
The estimated cost for the mis-hire of a middle ranking executive ( £75K salary) is as follows:
Recruitment Fee – 25% – £75K salary mid-level executive £18,750
Potential Bonus (team based 15%) £11,250
Notice Period 6 months £37,500
Cost of repeating the exercise £18750
+ Possible Unfair Dismissal Claim (12 months salary)
+ Demotivation of Team
Estimated Total Cost £161,250
It’s ironic that the application of a reputable, robust and proven Psychometric Assessment Process would add very little to the original cost of the Recruitment Project. Please contact me for further information: Psychometric Assessment is included FREE OF CHARGE, for all Retained Assignments and we have access to the best Assessment Technology available on the market.
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