Every firm has set processes in place to weed through potential candidates to get to “the one,” but finding the right match takes proficiency. According to a recent study, 68 percent of businesses have suffered from a bad hiring decision.
While one bad hire might not be a disaster, it can certainly wreak havoc on daily operations. One wrong hire can lower a company’s productivity, affect worker morale and even lead to legal issues, all while costing the firm a substantial amount of time and money. The average cost of a bad hiring decision can equal 30 percent of the individual’s first-year potential earnings, according to the U.S. Department of Labor.
Whether you’re hiring to fill an immediate need or to bolster your workforce during your busy season, here are six measures you can take to ensure you’re hiring the right person for the job.
Understand your company’s core values
Hire around company values and traits. In the end, it’s the candidate whose values, outlook and behavior align with those in the organization that are likely to not only be a good fit for the company, but also be a long lasting employee.
Have the candidate meet with more
than one current employee
You want to get a diverse perspective of their fit. While you might think they match the company culture, another manager may not. The more outside opinions you have, the more likely you are to choose the right candidate.
Assess your hiring needs
Are you trying to fill a particular void in skill set? Are you replacing an employee or do you just need extra help? Decide what traits would make an ideal candidate for each role. If you have a clearly defined scope that includes expectations and responsibilities for each role, along with personality characteristics around that, you should be more successful in hiring.
Assess your business
Think about the people who will complement what you’re doing and help you grow at each stage. The type and mix of people you need at a startup vs. a mature enterprise is very different. Also, don’t only look at the stage your firm is at now. Look to the future. What types of employees do you need to take the company to the next level?
Know your best employees
Use those individuals as an example when developing your ideal candidate profile. While it’s hard to find an exact match, having a set profile outlining what traits you’re looking for will help you navigate through the hundreds of applications and interviews.
Ask for specific examples of the candidate’s prior experiences to ensure his or her background matches your needs. These types of questions will give you deeper insight into past behavior. At the end, you should have a better understanding of the types of challenges tackled in the past and how they were handled.
Finding the right candidate takes time and effort. Implementing these extra measures will be well worth it when you hire the right candidate for the job.
Rona Borre is the founder, president and CEO of Instant Technology. She contributes to staffing industry publications such as Staff Digest and is often interviewed as a subject matter expert for various publications. For more information, visit www.instanttechnology.com.