One Bad Hiring Costs Indian Companies over 20 Lakh: Survey

In comparison, 27 percent of U.S. employers reported that a single bad hire costs them more than $ 50,000.

As per the global study, hiring the wrong person can have serious implications for companies and more than half of employers in each of the ten largest world economies said a bad hire has negatively impacted their business.

This was in terms of a significant loss in revenue or productivity or challenges with employee morale and client relations.

"When you add up missed sales opportunities, strained client and employee relations, potential legal issues and resources to hire and train candidates, the cost can be considerable," said CareerBuilder CEO Matt Ferguson.

"Employers are taking longer to extend offers post-recession as they assess whether a candidate really is the best fit for the job and their company culture," he added.

According to the survey, BRIC countries were the most likely to report being affected by a bad hire last year.

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