
#WorkTrends Preview: The Value of Employee Referral Programs
As one of the only business segments not directly contributing to the profitability of a company, HR has a large need to save money wherever they can. The average cost of a new employee in 2016 was roughly $58,000. To put that in perspective, for small business owners, the average cost of a bad employee was $8,000. Finding quality candidates is tough, but the consequence for finding bad candidates is disastrous. A bad hire can lower productivity, reduce performance, and weaken team morale. Overall, it adds up to a very costly mistake from more than just a monetary standpoint. One of