According to a study by CareerBuilder, 74% of employers reported making a bad hire, and the average cost of a bad hire was $14,900. The study also found that the cost of a bad hire could go much higher for management and executive-level positions. The top reasons for a bad hire were cited as a result of the employee's skill set not matching the job, and the employee not having a proper attitude.

Another study conducted by the Society for Human Resource Management found that the cost of a bad hire could be as much as five times the employee's salary. The study also found that the cost of a bad hire included direct costs such as severance, recruitment, and training, as well as indirect costs such as decreased productivity, lost time, and decreased morale.

Sources:

CareerBuilder. (2022). How to Avoid Bad Hires. Retrieved from https://www.careerbuilder.com/advice/how-to-avoid-bad-hires

Society for Human Resource Management. (2022). The Cost of a Bad Hire. Retrieved from https://www.shrm.org/hr-today/news/hr-magazine/0917/pages/the-cost-of-a-bad-hire.aspx