RepVeraFree Tool

The true cost of a mis-hire

Most hires you regret could do the job. They fail on how they work with people, the part the interview never sees. Here is what that costs, using SHRM and Department of Labor benchmarks.

20%
You set this. For context, studies find 46 to 89 percent of new hires do not last 18 months, and almost none fail on technical ability.
Cost of a single mis-hire at this level
$120,000 to $180,000
SHRM puts a mid-level mis-hire at 100 to 150 percent of salary.
Your estimated exposure per year
$120,000
Assuming 4 hires like this a year and a 20% mis-hire rate.

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You can verify what someone can do. The harder question is how they actually show up, and that is where mis-hires are made.

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How this is calculated

Cost of a single mis-hire is the role salary multiplied by SHRM’s cost-of-bad-hire range: 50 to 75 percent for entry and hourly roles, 100 to 150 percent for mid-level, technical, and manager roles, and 200 to 213 percent for executives. The U.S. Department of Labor’s more conservative floor is about 30 percent of first-year earnings. Annual exposure multiplies the midpoint of that range by the number of hires you make at this level and the mis-hire rate you set. Sources: SHRM Talent Acquisition Benchmarking, U.S. Department of Labor, and Leadership IQ on new-hire failure. These are estimates to size the problem, not a quote.