What Makes the Right Hire
The cost of getting it wrong
Poor recruitment strategy can be immensely expensive to the business. The true cost of failure in recruitment is very difficult to calculate. For a hire that stays with your organisation for 3 months and then leaves, consider the following factors:
- Base Salary
- Guarantee
- Benefits (Car allowance, pension, health, life assurance etc)
- Cost of the recruitment process in terms of time spent interviewing
- Recruitment Fee
- Cost of training / management time
- Loss of Sales revenue / Sales opportunities
- Distraction and damage to moral of existing workforce
- Damage to the unsuccessful hire’s career
In total the financial cost of a three month tenure may be the equivalent of 12 months salary. A high price for any organisation.
How do I make the Right Hire?
Having undertaken needs analysis and moved through the Interview process, you will ultimately arrive at a decision point. Consider the following attributes against each of your Applicants to make an unbiased, criteria based, hiring decision:
- Skills – Do they have the necessary skills and or qualifications to perform the role?
- Experience – Having the necessary qualifications doesn’t necessarily guarantee the right level of experience. Does the applicant have the level of experience necessary to be effective in your role?
- Personality – Do they culturally match your role and organisation?
- Attitude – Do they possess the discipline and work ethic required to successfully fulfill your role?
- Location – Is the office location or travel required by the role realistic on an indefinite basis? Look for evidence of the Applicant undertaking similar journeys with previous employers. Beware of enthusiastic Applicants who will subsequently grow tired of lengthy travel times.
- Expectations – As an employer ensure that your role has been accurately depicted to the Applicant. Over-selling a role and the earnings opportunity it represents may achieve rapid hiring success, but may also result in a swift loss of trust and moral resulting in resignations and expensive rehiring.
- Aspirations – Does your opportunity fulfill their career objectives? Failure to match a role to aspirations can result in a short tenure and expensive repeat of the recruitment process.
- Circumstances – Is your Applicant able to give the necessary level of commitment to your role and are they available for hire now?
Remember:
- Avoid making judgments on the basis of irrelevant attributes, such as age, race, sex or religion. Your Aurum International Consultant can advise you on both the commercial benefits and legal requirements for diversity and non-discrimination.
- If you have a number of short listed Applicants to choose from, consider taking references. This may give you an additional perspective to assist with the decision making process.
- Finding the perfect hire is not easy. If your first round of interviews have failed to identify any perfect Applicants, before dismissing all those seen and starting the process from scratch, consider if the criteria you are basing you decision upon are all accurate and necessary.
- Do not hire Applicants if they lack attributes, skills or experience that are essential to the role. You will probably pay a heavy price in the short or medium term.
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