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Employer Blog

Business Owners Recognize the Risks of a Bad Hire

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Research by ASA corporate partner Monster finds that most small business owners identify hiring the wrong person for a job as a risk to the company. In the survey nearly 700 small business owners in the U.S., 89% of respondents said hiring the wrong person is a risk to the company; 51% said it is a major risk.

Among small business owners who view hiring the wrong person as a risk to their business, top reasons include a negative effect on the company’s reputation (68%) and decreased productivity (62%). A majority (56%) say they are investing more time to make sure it doesn’t happen again.

On average, small business owners spend $1872 to hire someone new and up to four months searching for the right candidate. Almost nine in 10 (89%) of small business owners find the hiring process time consuming; 61% wish they had more help in finding the right person for the job. 

Almost two-thirds (62%) of small business owners say they have previously made a wrong hire, and 56% have settled for a candidate who was not as qualified as they would have liked. 

As a result of wrong hires, business owners say, they have experienced a loss of time (69%) and money (56%).

Asked what negative qualities they worry about most when evaluating a new hire, respondents mentioned laziness (58%), the employee not getting along with clients 944%), and the employee not having the right skills for the job (41%).

 

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