You are listening to trinity employments, eight player Matchmaker podcast starring your host and the Co founder of Trinity Employment Specialists, Cory Minter.
Hi, welcome to a player matchmaker. I’m here with Ethan Mei and we’re always trying to look for ways to add value to job seekers and employers. And the title of this podcast is watch out for bad hires and make sure you hold onto the good ones. Um, this particular podcast we’ve got a lot of statistics about hiring and we’re going to be talking about the importance of, um, of making sure not to have a bad hire, but also making sure not to hold on to bad hires and bad culture so that you run off your really good employees. Um, you know, an interesting statistic, uh, I’m jumping the gun here is that, uh, we’re, we’re mentioning this in our last podcast is that career builder said in, in this study they said that a bad hire costs on average $14,900 or you know, $15,000. But, uh, getting or losing a good hire is, is losing according to this study, 30,000 a dollars for, for an employee from you next Tulsa Medical Staffing visite.
And so you’ve gotta be really careful about just, just making sure to keep the right people, um, help other people that are in the wrong seat get to where they need to go. Um, and so we want to go ahead and get started on this, but before that, I want to encourage you to please check out our other podcasts. You can check that out on our email@example.com going to our podcast dropdown or, um, or you can, uh, uh, you can eventually go and check us out on iTunes, blah, blah, blah, blah, blah. I messed that up. So, uh, Ethan, go ahead and get us started with some stats. How’d you like that? Blah, blah, blah. Maybe you should add that at the end of every plug and get this on. [inaudible]
oh, man. Yeah. So it’s really important to, uh, to make good hires. Um, obviously like we talked about, the average cost of a bad hire is around $15,000, and the average cost of losing a good hire is around $30,000 according to career builders. So, um, with that, it’s, uh, it’s really important. So I mean, what makes a bad hire? I mean there are lots of things here, but, um, um, we can go into lots of details there. But one thing that stood out to me before that is when, when, when asked how a bad hire affected their business in the last year, employers in the same study said that they felt that a bad hire produced less productivity. 37% of managers said that less productivity, 32% of managers said that they feel that a bad hire made them lose time, that they could have spent recruiting and training another worker and uh, in 31% that they felt it compromised the quality of work. Do not wait another moment, contact us for the best Tulsa Medical Staffing!
Um, compromise. Not, not meaning that that bad hires quality, quality work, but the entire company’s quality of work. Um, and so I mean that’s, that’s, those are three really big things just adds on one another. And it’s all these hidden things that people don’t think about. Like if you think about, you know, you’re, you’re paying somebody to train the person and then you’re paying the person you’re training, you’re doubling up the salary, you know, for less work essentially for, well yeah, for no work basically cause you’re just training and so you’ve got that cost going on. If a bad employee goes in, ruins an account, what if, what if a good, what if a bad employee goes and does something that is the last straw and you lose a really great account. You know, if we were to lose one of our big accounts, that could be possibly half a million dollars in revenue that you could lose all because you know, you had the wrong person in the seat, if not more, if not more from your next Tulsa Medical Staffing service!
And then all of the things that they were talking about here, you know, Tom lost a train because we got to train then. So you’re, you’re, you’ve got that cost that how much it costs to train the bad heart, and then the bad hard leaves, then you got to do it again. And I think like when I was getting trained here, having never been in a cruder Casio, my manager was the one that trained me. And a lot of that was shadowing her and watching what she did. So she was still able to do her work. But everything she did, she was pausing to explain to me. So her work probably slowed down productivity by half. So it’s not just like you’re paying me and I’m not learning and I’m not doing work and you’re losing that, but you’re paying her as well. And she’s only doing half of her work. That’s a lot of time you’re losing that. But most companies are like this. It, yeah. Um, you know, we know it’s slowing you down, but we still need you to get everything done. Reach out now here the top Tulsa Medical Staffing company today!
And you know, that’s, that’s just the reality of doing business with anyone because not one of our customers, Ethan could give two rips that you were training that day. And that’s the why, that’s why they’re, you know, the product that we promised was being delivered a in not as fast as a fashion, but it just compounds. And you and I could sit here and if we really thought about it and nickel and dime all of the costs that are hidden, that they’re not on a spreadsheet, you know, it’s real easy to go, oh, we eat, you know, we hired, we paid this website this much to advertise. You know, we, we, it took us about 27 days on average to bring him in. So, uh, you know, on those 27 days, we interviewed him three or four times, you know, we paid an employee, you can figure out a hard cost, but none of this that we’re talking about is going to be in a spreadsheet from the best Tulsa Medical Staffing!
And that’s what a lot of managers miss. A lot of. It’s the, the intangibles and, and it’s Kinda hard to figure out what makes a bad hire because so many of them seem really promising, you know, at first. And so we’ve got a list here as well, from the same survey of what managers have attributed to being a bad hire. Um, cause it’s real easy to say in hindsight that person was a bad hire, but it helps to be able to look for what made them a bad hire so you don’t make that same decision. Um, but, uh, out of these managers, 35% of them said I’m a bad hire. You know, while the candidate didn’t have all the needed skills, they thought that they could learn quickly, but it turns out that they couldn’t and it was too big of a setback to learn at all.
Um, and that’s when you just kinda like someone you see potential. But you know, I would, I would even argue with that, that, you know, um, with, with some people here that are doing really, really well, I just saw the potential. And so we, you know, we made a gamble and that, that’s the bad that you read those numbers. Those are, that’s a big gamble. You know what I mean? Never ever have I gone to the roulette table, which is kind of what this is like and thrown 30 grand down. Sure. 15 and just been like, all right, let’s roll the dice, see what happens. But you know, in a lot of ways companies are kind of doing that. And so are employees, I mean, listen, we’re all in the same boat. Yeah, definitely. Very true. A 33% of managers said that they found out later that the candidate lied about his or her qualifications and maybe not even directly lied, but definitely exaggerated what they’d done or were able to do. You will enjoy this amazing process because they are ready to help you get the top Tulsa Medical Staffing!
We’ve, we’ve had that happen with many employees where they, they were able to fool, not just us, but also the hiring manager. You know, and, and really that’s a lot of reason why people use us is because they want to be able to release that person quickly and then use the power of our recruiting team to be able to replace it quickly. Yeah, most definitely. Um, 32% said that they took a chance on a nice person. That’s kind of exactly what you’re talking about. You’re taking a gamble on somewhere like that. That’s a really nice person. I bet they can learn the skills and it turns out the camp well, and that’s definitely going to be the case. But I remember I was in an airport one time and I bought this magazine that a buddy of mine told me to buy. So I went up.
I remember, well, I remember the story real quick. I’m never gonna let you tell the story without telling me the ridiculous price you paid for the magazine. It was, it was, it was like, it’s like 20 or 30 bucks a loosen man when you’re, you all right. When you go get a magazine, you’re expecting, oh, I mean this is the Harvard business review, you know, so you’re expecting, oh, this is probably gonna be about five, six bucks. Yeah, definitely. You know, and you dropped $20 while you’re at the cat. You’ve handed it to them and they say, and they just ring it up and you see 20 bucks in there and you’re like, [inaudible] is that really 20 bucks? Oh Yeah, that’s 20 bucks. So bring that up four times. Then you got to take some of those off. Really 20 bugs are, yeah, it was. Call these guys now as soon as you can for your next Tulsa Medical Staffing need!
It was more of one of those scenarios. All right. Sorry I interrupted. But you got that. So I read a bit. I read a really important article that changed the trajectory of our company a little bit and they were talking about all of the hiring mistakes that had been made previously following the eighties and night, early nineties hiring methodologies. And really they went after the degree in the eighties you had a degree in that field. The likelihood of you getting a job is really pretty high. Um, in the 90s if you had a certification or if you had work experience, that was the only thing that was going to allow you to get into that job was that kind of work experience. This study was saying, listen, this is a new hiring trend. We get it, but people are reporting having better results with some, hiring the person and training the skill because at the end of the day, you really need someone with character and integrity.
And if you get those two qualities, those are the things that if you think about it, Ethan, you can’t train that kind of stuff. Yeah, most definitely. We’ve said it before, but you know, the, the well we preach so often is higher character and train skill. You know, you can train skills but you can’t train character. So I’m definitely feel that and sometimes that kind of comes out to bite you in the butt sometimes. Um, another one that we’ve got here, we’ll, we’ll do a couple more and then when we go onto our action points, but another one that jumped out to me was 30% of managers say they made a bad hiring decision because they’re pressured to fill the role quickly. And I’m sure any hiring manager out there has felt that pressure before. And it’s probably from another hiring manager saying, hey, listen, or another manner and say, we gotta have somebody, I’m dying here. YOu need to call us for your next Tulsa Medical Staffing appointment!
Please give me somebody. And then it’s a 15 to $30,000 loss. Now. Uh, and the last one here before we kind of move on is, uh, 25% of hiring managers just flat out admitted to ignoring some of the warning signs. And I think that comes from a lot of the things above whether it be this person didn’t quite have all the needed skills, but they had some, they think they could learn quickly or maybe this person was really nice. There are a couple of warning signs, but we really liked them. So we’ll move on. And I mean 25% of employers say that that was a big problem that led to a bad hire. Well, I think, I think it’s really easy to interview someone. I would say 75% of the people and you’re like, you know, I see potential there if they really exerted themselves and their, listen, there’ve been people that we’ve hired and I’m dead certain that if they really, truly, truly applied themselves that they, I think that they had what it took to do it, but it required hard work.
And that’s one thing that, you know, I know that we, you, you hate the word millennials on the deal, but millennials really do. They, uh, you know, it has to do with parenting, me and me and amber trying to adjust our parenting style specifically for this. But having to go through the struggle is just a piece that everyone needs to be comfortable with. And if you were, if you were brought up where a lot of things were taken care of for you or if people stepped in to help you through struggling areas, it’s going to be really difficult for you to be willing to walk through a crazy struggle. And, um, and I just don’t know that there’s any other way around it. You know, success sometimes. Yeah. So to wrap up kind of those stats on what makes a bad hire overall, this is how employers categorize someone as a bad hire, a 54% categorize them as a worker that didn’t produce the proper quality of work.
53% said that the worker had a negative attitude. 50% said a bad hire as a worker. That didn’t work well with the other workers. 46% attributed a bad a hire to a worker that had immediate attendance problems. And lastly, a 45% said that a bad hire, um, is a worker whose skills did not match what they claim to be able to do when they hired. Well, we listen, I’ve had people remember that story I told you, I’ve said it several times where I had that God that claimed to be this great recruiter and then realize that he was using his wife as his manager and you know, one of my buddies hired him and he was like, he was horrible, but he claimed all of these great things, you know, you’ve got to watch out for that, especially with sales people. But absolutely those things happen all the time.
So if you’re an employee man, just be careful to not oversell your thing over. So your skills and I know you want that and that and sometimes that’s how people are able to jump up. But man, it’s going to be difficult to get a promotion if that employer knows that you burned them and you got them good. Oh definitely. You know, and if you don’t get fired, it’s going to be definitely difficult to promote. Yeah, most definitely. And you know, but you know, workers also have regrets. I mean, that’s something that, that we had here to talk about. I mean the employees also regret a bad hiring decision when they’re the ones being hired. I mean, you want to talk about that? Well that’s where people, your best employees will leave if you have a co, if you really, one person I’ve watched can affect of co culture very easily and if you get someone in there, the impacts your culture gets it going negative and you lose one, your a players mean it is much more difficult, uh, to replace an a player for you.
But a culture they’ll, they’ll leave. Um, especially if they’re an a player, they’ve got options. So you, you want to make sure that you don’t let the good ones go. And if you see that you brought somebody in, that’s really frustrating. People, this is what most people told me in the past because me and amber, listen, I’m just one of those people. I just try to look for the in people and I get to see it. Like that’s my gifting. The, the, the struggle to that is I don’t get to see, you know, some of the, some of the negative things. And so it’s more natural for me to want to try to develop someone rather than it is just to cut, you know, I’ve always been that way. And um, and, and that’s a struggle, but it’s also, I think it’s also a benefit.
I think it’s benefited a lot of people. But, um, but one of the things that you, you’ve really got to do is make sure that you don’t take it to the point where your man, where you’re really great employees are just frustrated. Because when we’ve had someone that was obviously a culture mismatch and they were just horrible in our culture, when, when we finally, when they finally pushed us far enough and we release them, everyone was like, thank God we’d been waiting for that. You know? And so and so you don’t want to become that manager, don’t you? Don’t want to take it so far where obviously that was a mistake for me and amber on that. But was there anything else that you had? Nah, I’m good man. I’m good. That’s um, it’s Kinda interesting talking about all those things there then like how employers categorize someone as a bad hire.
All of those are kind of fed into what earlier when we were talking about all those little tiny things that, that we kind of sometimes ignore it. So this is good as interesting to me. Well, if trinity can help you in any way, we would love to. If you’re an employee, please go to our website, check it out and see what kind of positions we have available. Um, and if you’re an employer, we have a lot of information on there on how to contact us. It’s at Trinity employment.com or you can just flat out give us call at nine one eight six two two, two, five, eight, eight.