BizSugar.com › Human Resources › Tips and Resources to Hire the Best

The risk/reward ratio is higher with new hires at small companies. The cost of a mis-hire is considered to be, on average, 3-4 times their annual salary. The cost of mis-hire at a small company can exceed that and quickly reach — the entire company.

On the other hand, the reward from a great new hire at a small company can be—the entire company, again. A doubling of revenues or customers or cutting costs in half is the impact a good hire can bring quickly to a small company.

What resources are available to insure you, small business leaders, hire the best? (I'll talk recruiting candidates and keeping your best employees on another post.)

Let's assume you and your employees have gathered 3-4 top candidates to interview. I'm going to share with you the steps and resources I used with 100% success as CEO: 3 great hires and 1 bad hire avoided.