Studies have found that hiring the wrong person can cost a company 15 times their salary. This is because some of those mistakes are made by the employee, and other mistakes are made when they’re fired and replaced with someone new.
If you hire a manager who makes $100,000 per month and your decision turns out to be a bad one, it could cost the company up to $1.5 million. Hiring the wrong person is a huge mistake, but it happens all the time. Most managers make at least half their mistakes during hiring decisions.