It’s expensive when a person makes a hiring mistake, whether it’s a corporation, a sole propreitorship, or even an individual business owner. Researchers estimate the hard dollar costs to be 150% of the employee’s annual compensation in mid to large companies. That doesn’t even include the soft dollar costs which can be much more costly. This also applies to domestic employment as well.
Turn Over Costs
- If the bad apple nanny stays, she/he may drive your best friends, family and co-workers away.
- If the bad apple nanny leaves, families with young children must start the hiring process all over again.
Lost Productivity
- The families spend dealing with personality conflicts.
- Distraction and lose of focus by other family members dealing with personality issues.
- If that bad apple nanny that was hired is unproductive, other people have to pick up the slack. So what’s the purpose of hiring a Nanny?
- When the team morale is low so is productivity.
Lost Revenue
- Family, Friends, Co-workers and the children especially look at the nanny’s performance as a reflection of errors and bad decisions. Thus, the bad apple nanny can drive everyone away, including the children.
- Making a bad choice with a bad apple nanny will cost your family a lot of unnecessary aggravation. This type of decision affects all aspects of the breadwinner’s life, which indirectly affects the children involved.
Increased Risk and Liability
Employees with personality issues increase your risk of:
- Lawsuits
- Embezzlement
- Violence
- Child Abuse
- Child Molestation