A Decision Businesses Don't Want To Screw Up

Hiring in IT is a high-stakes game, with 75 percent of new employees failing to last even a year, according to Mike Schmidtmann, an advisor at business consulting group 4-Profit. And he said companies have a lot to lose if their new workers don't pan out.

"You lose $50,000 every time a hire leaves before six months," Schmidtmann said during a breakout session at Tech Data's TechSelect partner conference in Henderson, Nev.

Before coming to 4-Profit, Schmidtmann grew a telephone reselling business in the Washington D.C. suburbs by at least $4 million a year for eight consecutive years.

Here's Schmidtmann's advice on how to bring great people into your workplace.