LeaderZones

Guest Speaker

Don’t Forget to Hire

By David Russell CEO
MANAGEtoWIN

Although there are still companies struggling in this economy, I am speaking with more leaders who are expecting their business to grow in 2009.  This means people are going to start hiring again.  As a matter of fact, I am working for a company right now to help them hire a sales executive.

According to Inc. Magazine’s Guidebook, The Gallup Organization places the cost of a bad hire as being 3.2 times the individual’s salary.  Consider that cost for a moment.  If you are paying a person $60,000 a year in salary, the cost of hiring the wrong person is $180,000.  If I understand these numbers correctly, that is a 100% loss.  It is not like you missed out on $180,000 of revenue less the