By Team Tony Robbins (http://humanelevation.tonyrobbins.com/)
“Hire superstars only; don’t settle for average…The best predictor of their future performance is their past performance, actually.” – Eben Pagan
The cost of hiring the wrong person is high, but the cost of keeping the wrong person is even higher. According to one well-known recruiter, the real cost of bringing on a new employee is$240,000. But if you keep the wrong employee for say, two and a half years before firing and replacing them, that bad hire will have cost you close to $840,000 when you factor in total compensation, hiring, disruption costs, severance and so on. Essentially, the investment you make in that employee far outweighs their contribution.
But even if you go through all of the right processes to hire the right person, you may end up with someone who interviews well but isn’t an outstanding performer. So how can you determine if your new hire is up to snuff as quickly as possible? Eben Pagan has created a simple system to determine their performance meets your standards as quickly as possible – it’s called the daily update.