I will occasionally hear that companies can’t make the investment in personality profiling because they are trying to decrease costs. I certainly understand budgets, but always try to make the case for the long term savings that great hiring practices will provide for companies.
Companies that implement best hiring practices typically save employee replacement costs in these line items: Recruiting, Screening, Interviewing, Orientation, Equipping/Administration, and Training. They also save significantly by reducing the Lost Productivity associated with a bad hire.
Drake P3 has a concise white paper that deals with this topic. Click here to read “Hiring That Makes a Difference.”