One Bad Hiring Costs Indian Companies over 20 Lakh: Survey

New Delhi: When it comes to companies making a wrong choice in hiring an employee, India figures among the top-four countries worldwide and the cost of one single bad recruitment could be over 20 lakh, says a survey.

The chances of companies taking a bad hiring decision are highest in Russia, followed by Brazil, China and India at the top-four positions, while the U.S. is at the fifth.

As per the study conducted by global human resource consultancy CareerBuilder, 88 percent companies in Russia said they were affected by bad hiring last year, followed by 87 percent in Brazil and China and 84 percent in India.

The percentage of such companies in the U.S. was much lower at 66 percent.

The study further said that three in every ten Indian companies (29 percent) reported that a single bad hire -- someone who turned out not to be a good fit for the job or did not perform well -- cost the company more than 20 lakh ($ 37,150) on an average.

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