The Real Cost of Bad Hiring Decisions for Tech Startups & How to Avoid Them

As tech startups embark on their scaling journey, securing top-tier talent emerges as a paramount concern.

In this first instalment of our two-part series, Odgers Berndtson’s John Wright, Principal in our Executive Search Practice, delves into the critical importance of strategic hiring and the far-reaching consequences of recruitment missteps during a startup’s evolution.

Through in-depth interviews with founder leaders at various stages of their company’s development, John uncovers the learnings involved in building strong and resilient teams.

Leveraging experience to guide quality hiring

§ Early-stage startups must strike a balance between the urgency to fill leadership roles and the necessity of ensuring quality hiring processes.

§ The ability to attract, assess, and secure talent that meets the specific needs of each growth stage is vital for enduring success and adaptability.

The cost of a bad hire

§ A single poor hiring decision can lead to a 36% drop in productivity and incur substantial costs.

§ Employee turnover is significantly attributable to poor hiring decisions at the leadership level.