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%).