U.S. Losing $105 Billion a Year to Poor Hiring and Management Practices.

Companies talk about people being their biggest asset yet they fail to match the right people to the right jobs.

Failure to match the right people to the right jobs is widespread. Currently, one out of eight US employees leaves their job before becoming competent. With an average 8 months necessary to attain the required performance level, a mismatch proves costly for the employee as well as the company.

Last year The 2004 Recruiting Metrics and Performance Benchmark Report, published by Staffing.org, reported that cost-per-hire in 2004 was $4,262, an increase of over $260 since 2001. On a broader scale, the cost to hire employees in 2003 ranged from 14 to 29 percent of total employee compensation, a 2.5 increase over the two previous years. And this occurred during a period supposedly where the competition for employees was down!

Add to this cost-to-hire, training costs, lost opportunities, mistakes, morale problems and hiring the wrong people is costing companies a big chunk of change.

Yet these figures are only the tip of the iceberg. According to the report, nearly a quarter (23 percent) of US workers believe their colleagues are incompetent. More worrying still, while they may be critical of their co-worker's performance, US employees also admit that 68 percent of the mistakes they personally make never come to their managers attention.

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