How Much Does A Bad Hire Really Cost Your Business? (EP 66)

We’ve all been there, you did your best in hiring, said yes to someone, only for it to turn into a hindenburg situation.The truth is because we are dealing with humans and not robots (sorry Elon) there are variables with hiring that try as we might still make it a bit of a moving target, but fear not, today I am going to dive into the real cost of a bad hire and more importantly how you can reduce these costs and make your next hire your best hire.We're talking about a hot topic I see a lot in my clients and fellow business owners struggle with which is shifting from reactive to proactive hiring so that they can reduce the cost and mitigate the risk of a “bad hire”.Key takeaways: First, the biggest cost I see that we don’t think about is YOUR time and the team's time.So here are TWO things that you can do with the next hire that will DRASTICALLY save you timeThe third thing that will save you not only time AND money is this: Proactive hiring.I also share a bit about how to be an effective interviewer and how to objectively decide between candidates.CTAs/ResourcesReady for a resource that will take the guesswork out of your teams roles and help you not only get more out of your current team, but make your next hire. your best hire?Then download our Golden Key Scorecard. Our Scorecard provides the time tested framework and process to get you and your team out of the weeds and into a well-oiled machine that can scale without you.https://www.goldenkeypartnership.com/scorecardPast Biz Doctor podcasts to go along with todays episode:The 4 Keys to Successfully Building a High Performing Team: https://podcasts.apple.com/us/podcast/s1e9-the-4-cs-of-success-for-building-a-high-performance-team/id1618773779?i=10005673689586 Of the Most Effective Interview Questions to Help You Pick The Right Candidate https://podcasts.apple.com/us/podcast/6-of-the-most-effective-interview-questions-to-help/id1618773779?i=1000610682189-------------------------If you enjoyed this episode and it sparked something in you, please give us a 5 Star rating/review and share this with your friends and fellow business owners. Also, don’t forget to subscribe so you are the first to get notified when our next episode is live and ready for your ears.-------------------------Meet your host. Lauren Goldstein is founder and CEO of the award-winning and globally-recognized business consulting firm, Golden Key Partnership. Her clients lovingly call her “The Biz Doctor” (which also happens to be the way this podcast got its name). Her superpower is helping 7-figure service-based entrepreneurs uncover what is keeping them stuck in the trenches of their business, so that they can have more freedom, profitability, impact, success, happier teams, and can breathe a much needed sigh of relief.She’s been featured in Thrive Global, Huff Post, Authority Magazine and is a trusted expert to fortune 500 companies like Apple, Nike, and AT&T, among others.For more from Lauren, and to learn more about her signature diagnostic framework or how she helps business owners get out from under her business tune visit her website https://www.GoldenKeyPartnership.comYou can also connect with her on instagram (www.instagram.com/itslaurengoldstein) or LinkedIn (www.linkedin.com/in/laurenegoldstein)The Biz Doctor Podcast is produced by Story Studio Network. www.storystudionetwork.com/