A great walk through of a real situation mixed with some great info in this article here. This article says a bad hire can cost up to $336,000 Annually or $28,000 a month!
Real Cost of a Bad Hire
According to a blog post by a well-known recruiter named Jorgen Sundberg, the real cost of onboarding is $240,000 per employee. That’s some serious sticker shock. Sundberg now runs Link Humans, a content marketing company.
He notes that the total cost of recruiting the wrong employee includes hiring, total compensation, eventual severance pay, and other factors like legal fees and totals more like $840,000 when you factor in all of these costs. (This is based on hiring a mid-level manager who works 2.5 years and is then terminated and replaced.)