The ongoing after-effects of the COVID pandemic still reverberate throughout the health and social sector making it even more crucial to be employing the best and avoiding the consequences of a bad hire. So just how costly can a bad hire be for a business and what can be done to guard against it?
Financial Costs
The Recruitment and Employment Confederation states that most employers underestimate the financial impact of a bad hire and that the financial implications rise as the responsibilities of the post do, meaning that the cost of a bad hire at middle management is more than at entry level.
Recruitment Costs
Each new employee comes with associated costs, from advertising to the recruitment process of shortlisting and interview through to checks and on-boarding. These costs are built into any recruitment plan however a bad hire comes with these costs and more.
A recruit who resigns or fails to perform and is asked to leave, wastes this investment and worse the cycle has to start again. Recurrent recruitment costs can have potentially devastating financial implications for a business.
Additional On-boarding and Training Costs
A poor appointment who fails to deliver, will need additional support and further expensive training. All of this requires time spent away from delivering the job they were hired to do.
Additional Management Costs
Managers using their time and resources, overseeing and supervising a bad hire reduces their focus and the time available for their core duties. This impact on their productivity needs to be taken into consideration. Calculating the cost associated with the hours spent managing a bad hire can be an eye-opening experience for businesses.
Cost to Workforce Morale
When a company makes a bad hire, it can be felt at all levels of the organisation. The impact on morale can be huge, from the extra workload created for existing staff, to the usual lines of supervision and management being tied up. All this can lead to a feeling of ill will and resentment.
Existing staff picking up the slack of a colleague can lead to workforce burnout. The Health and Social Care Committee’s report examining workplace burnout across the NHS and Social Care, highlights the risk, not only to individual employees, but the wider impact on retention of good workers who may look to move to a more stable place of work.
Cost to Delivery of Service
The quality of experience and service for those receiving care and support is the most important factor in health and social care; the truth is a bad hire impacts on clients and patients directly.
Whilst every healthcare provider prioritises patient care, high turnover affect relationships and when limited resources like time and money are being used on paying the price of a bad hire there may be consequences in the quality of care.
How Frank & Partners Can Help
At Frank & Partners we provide both temporary and permanent talent acquisition within the healthcare sector including the NHS, care homes, the council and private practices.
We aim to ensure consistency of care for residents, patients and service users.
We help guard against the costs of a bad hire by ensuring you are matched with the talent you require. Our agency staffing service is designed to secure consistency of care for residents, patients, and service users.
Looking for expert help with your recruitment needs? Contact us here.