Because payroll constitutes about half of the budget for most companies, selecting employees is best seen as an investment. For each salary dollar spent, we hope for a return of several times that amount based upon that individual's contribution to the enterprise. From this perspective, it is essential to consider how high the cost can be for hiring the wrong person. Fortune 500 companies estimate the cost of mishiring to be between two and four times the person's salary. Consider the impact of a bad hire: lost business and business opportunities, angry customers, low morale, low productivity. The following table documents even higher costs of hiring a person who quit or was fired one year after being hired and was 50% productive during that year:

This seems to us like a great opportunity to announce a new volume pricing plan that lowers the testing costs for many of our clients. Beginning on April 1, our price structure will be as follows:

These data show very obviously that the costs involved in careful pre-employment screening are trivial in comparison to the costs of making a hiring mistake. It makes clear economic sense for an employer to do everything possible on the front end to enhance the effectiveness of their hiring process. We certainly hope that you will continue to utilize the services of The Computer Psychologist as a component in your hiring process.