How much does a bad hire really cost your practice?

Many practice owners look at recruitment as simply the cost of advertising a vacancy. In reality, that’s often the smallest part of the investment.

A single advertisement on SEEK is just the beginning and unlike working with a specialist recruiter, there is no placement guarantee if your chosen candidate doesn’t work out.

Then consider the hidden costs:

• Time spent writing, posting, and managing the job advertisement.
• Reviewing dozens (sometimes hundreds) of applications.
• Screening, vetting and shortlisting potential candidates.
• Answering daily phone and email enquiries.
• Scheduling and conducting interviews.
• Conducting thorough reference checking.
• Communicating with unsuccessful applicants.
• Preparing employment contracts and onboarding documentation.
• Induction and training.
• The time your Practice Manager and senior team invest in helping a new employee become productive.

Every hour spent on recruitment is valuable time taken away from patient care, business development and supporting your existing team. Those indirect costs often go unnoticed, yet they can have a significant impact on the overall performance of your practice.

If that new team member leaves after a few weeks or months or simply isn’t the right fit you don’t just lose the advertising spend. You lose the hours invested by your leadership team, the productivity of your existing staff and often the impact on patient experience and team morale.

Depending on the role, a poor hiring decision can easily cost $7,000–$20,000+, with senior or highly specialised positions costing significantly more once lost productivity and replacement costs are factored in.

The right recruitment partner does more than find candidates. They help reduce hiring risk through thorough screening, reference checking, industry knowledge and ongoing support throughout the placement process.

Because the cheapest way to recruit is almost never the least expensive way to hire.

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