Improve Hiring Practices and Reduce HR Costs
Hiring new employees is never easy, but improving your hiring practices can pay off tenfold in the long run. The cost of a bad hire can reach staggering proportions when you consider opportunity costs, compensation and HR time.
But there are better ways to hire the right people for your company!
It comes down to talent, methods and getting to the heart of what’s really important.
The Cost of a Bad Hire
“Poor hires do more than drain your time and energy – they disrupt your business in multiple ways.”
This infographic from RobertHalf.com shows how lost opportunities, unhappy workers, expenses and time all play into the high cost of hiring the wrong person.
Best Practices for Hiring
There are many resources available for creating a better hiring process, just do a quick Google search for ideas.
The main themes you’ll find revolve around finding the right talents and strengths, not just the right skills and experience.
This infographic from iSqFt.com outlines important factors that go beyond skill and job knowledge. These are relevant points for any industry, not just construction.
You could take it a step further, like Google, and ask interview questions that reveal how a person thinks, solves problems and generally perceives their world.
The Generation Gap
Also consider which generation you’re dealing with as you recruit and interview. They each have different approaches to work, and where they look for jobs.
Consider these tips from Indeed.com to attract top talent from every generation.
Related post: Solving the Manufacturing Talent Shortage
Uncovering Passion and Purpose
Digging deeper to uncover the passion, purpose and drive of a candidate unveils a talent pool you may have not considered.
This TED Talk by Regina Hartley: Why the best hire might not have the perfect resume offers some great advice on how to sift through stacks of resumes and pick out the hidden gems.
She talks about how companies who value diversity in their ranks outperform competitors on a regular basis. People who have faced and overcome adversity seem to flourish in changing workplaces.
“Choose the underestimated contender, whose secret weapons are passion and purpose,” she says.
How much of a challenge is hiring for your company? Have you made any recent improvements?
Share your insights below in the comment section, or share on social media.