Making the wrong hiring decision can be incredibly costly. The U.S. Department of Labor estimates the cost of a bad hire can be up to 30% of a first-year salary and up to 50% for managerial roles. When companies are in growth mode, it can be tempting to justify or write off
these costs as unavoidable inefficiencies, and therein lies an opportunity. HR professionals can differentiate themselves by ensuring they hire for success. When the job market slows, however, hiring for success becomes critical.
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