The U.S. Department of Labor estimates the cost of a bad hire at 30 percent of an individual’s first-year earnings. So, you do the math. For an employee starting at a salary of $50,000, that’s a $15,000 hit to your bottom-linehealth. It’s beyond sobering to think of the cost when a senior level hire goes bad. Not to mention the stress, frustration, headaches and loss of morale and productivity that are the inevitable collateral damage.
Building a great team is essential, but a hiring misstep can derail you and threaten your competitive edge. To avoid a scenario or pattern of “misfire hires,” utilize a well-planned, deliberate approach.
Know What You Want
Often, managers have a general idea of what a job requires, but have not thought through the specific skills, knowledge, experience and personality needed for success.
- Clearly define the position. Develop a clear, precise job description. Make it as transparent and detailed as possible, and keep it up to date. This goes for every job within your organization. It takes some time, but you’re be pleased with the return on your investment.
- Search for and identify candidates in a strategic way. Use relevant job boards and be sure they link to your company website. Integrate your posting into social media, considering options such as Instagram and Pinterest as well as LinkedIn, Facebook and Twitter.
Take Your Time – But Stay on Track
Keep your hiring process efficient. Never rush or cut corners, despite pressure to fill a position “yesterday.” At the same time, keep the momentum going and keep candidates in the loop from start to finish.
- Vet candidates thoroughly. Don’t skip reference or background checks.
- Don’t hold out for the “perfect candidate.” At least, not for too long – or you may lose them to the competition. If there are unavoidable delays in your process, be sure to keep candidates informed, so they don’t go elsewhere due to your failure to follow up.
Perfect Your Interview Process
Be well prepared for on-site interviews. Your pre-screening should be complete, so you can focus your time on the best qualified applicants.
- Actively listen. During an interview, the candidate should do at least 80 percent of the talking. You need to effectively sell the position and your company, but don’t talk too much. The use of open-ended questions will help ensure that the conversation is a productive one where you truly get to know a candidate as an individual.
- Hire for cultural fit. Competencies and abilities are critical, of course, but you need to hire for fit. You can always train for skill.
- Don’t settle for vague responses. Ask follow-up questions as needed to seek real behavioral support for candidates’ talents and experience. Unless you are 100 percent satisfied with a response, keep the conversation going until you experience that “aha” moment.
- Don’t rely on gut feelings. Your process should incorporate both qualitative and quantitative input. Experience and intuition are important, but so are more scientific methods like testing, simulations and work samples. No single aspect should be relied on exclusively. Rather, each should be weighted based on company values and job requirements.
Your professional staffing partner can help as you design and implement a clear-cut, successful hiring process. To learn more, read our related posts or contact the PrideStaff Fresno team today.