Costs of a Bad
Are You Really Saving Money by "NOT"
Using an Executive Recruiter's
Do you feel like you're ahead of the dollars and
cents game when you decide "NOT" to use an executive
recruiter's services in your recruiting and hiring plans?
Maybe you figure why bring a third party into the situation
and pay out a fee, but have you ever really taken a look at
the costs involved when your "chosen hire" doesn't work out?
The numbers regarding costs of a bad hire vary, but
here are some estimates from various sources. According to Recruiting Times, "It
costs $7,000 to replace a salaried employee, $10,000 to
replace a mid-level employee, and $40,000 to replace a senior
The U.S. Department of Labor estimates that
the average costs of a bad hire may "equal 30% of the first
year's potential earnings."
According to a presentation
titled, Recruitment and
Selection, by the Society for Human Resource Management,
"replacing supervisory, technical and management personnel can
cost from 50 to several hundred percent of the person's
We've recently started a couple of
LinkedIn groups in the Banking/Finance area and the Managed
Print Services (MPS) area; if interested, click on the
group names below. We look forward to meeting you
"Top 5 Mistakes" Made by Leaders and
According to Executive Coach and
founder of Executive Velocity, Beth Miller, the following are
the "top five mistakes" made by leaders and
1. Focusing on the Urgent
and not the Important
2. Lack of Consistent
3. Ineffective Feedback
to Define Clear Goals
Click here to read more about these
leadership mistakes at Executive
I've been unemployed since November 2008. Fifty people
lost their jobs with the company I was working for. I
planned to move to another state so I decided to take
some time off to make the transition. I have now been
actively looking since August of 2010, but the phone
just doesn't ring. I have joined networking sites,
talked to recruiters, reached out to people that work at
companies I want to get into and still nothing. I know
the unemployment rate is high, but I'm surprised because
I have a strong record of success. Although I've done
some work on the side, I don't consider it significant
enough to put on my resume.
recruiters/companies are looking at my resume, are they
having major reservations because they see I
haven't worked since
short answer is yes. Companies question motivation and
begin to ask what other issues could be at play here. In
positions where there is a lot of competition, companies
and recruiters will almost always pass on a work history
that has gone stale.
Having the resources to take
some time off is wonderful. In some cases it can be
viewed as refreshing and the individual will be a better
choice for having taken that time.
worked for 2 years makes me ask the "what's wrong?"
questions instead of "what's right?" Work done while
searching for a position may seem irrelevant to you, but
it sends a different message to others. Companies and
recruiters understand that in some areas positions were
hard to come by. They will reward those that did what
they had to with opportunity before they will for
someone that appears to have been on the
The question I would ask this
individual is what they did to prepare themselves for
the new working order. My companies tend to like to see
continuous learners, self development, continuing
education, project work of any size, or at least
something that says current!
If the phone has
stopped ringing and people have stopped taking the
calls, then the message needs to be refreshed.
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About The Morisey-Dart Group:
The Morisey-Dart Group executive recruitment firm partners
with clients to find the impact players needed to solve
problems, meet demands for growth, and control costs, while
improving efficiency. They are specialists in areas such
as Alternative Energy and Semiconductor, Document Management
Solutions, Managed Print Services, Health Information
Systems(HIS), Health Information Management (HIM),
Financial Services, and Banking and Legal industries.
For more information visit: www.morisey-dart.com