Employee Engagement

The Costs of Poor Hiring Decisions — and How to Avoid Them

Effective hiring is a key tenet of success for almost every business. Bringing new talent into your organization will allow you to grow, whether that means making more or better products, reaching a wider audience, or expanding your offering.  Sometimes, hiring isn’t about growth but continuity—it’s a fact that owners and managers must face that often the best employees often move on to bigger and brighter things, no matter how great your company is to work for.  Few decisions, therefore, are more important than who to hire. The repercussions of a wrong decision can be wasteful at best and disastrous at worst. By considering the efforts involved in the hiring process, we can see the true costs of hiring the wrong employee. From there, we’ll look at what information you need to ensure that you get it right the next time around.  The costs of hiring the wrong employee Poor hires cost time and money across your business Hiring an employee is, for all but the smallest businesses or most basic roles, a complex and time-consuming process. First, the need for a new hire has to be identified, reported, and often justified. Then HR begins the search: gathering requirements, writing a job specification, advertising the role, and screening candidates.  Interviewing employees will typically require time not only from an HR professional but the hiring manager and other employees providing their opinions. Conducting any more than a handful of interviews will typically require hours or even days where these employees aren’t […]