A bad hire can cost your company $25,000—or even $50,000—in just one year, with consequences like lost productivity, low morale, and increased recruiting expenses. Often, this happens because companies rush to fill positions (38%), fail to thoroughly assess candidates' skills (21%), or skip proper reference checks (11%). To avoid these costly mistakes, focus on structured interviews with role-specific questions, always check references thoroughly, and ensure a great first day for new hires by preparing their workspace and fostering connections. Remember, great companies are built on great employees!