Even if it takes a few extra months to fill a position, don’t settle for the B Team.
By Tim Schumm
For many companies who enter growth mode, the first thought is to quickly bring on employees to satisfy the heightened workload. When this happens, oftentimes the new hires simply check a set of generic boxes, rather than being strategically vetted to see if they are the right fit for the organization. Sure, manpower is essential, but filling seats should never undercut the value of making the right hire.
The Intangible Cost of a Bad Hire
From start to finish, hiring a candidate can take as few as two months and up to six. While difficult to specifically quantify, the cost associated with bringing the wrong person on board, is very expensive. Let’s say, for example, that it takes 12 months for a new hire to perform on an optimally productive level. From a time standpoint, that means a manager is investing in 12 whole months of onboarding, training, hands on development and professional experience into bringing that individual up to par, not to mention salary, benefits and more.
That doesn’t even cover the impact the wrong people can have on the workplace culture. Poor hiring decisions can have a decidedly negative impact on an otherwise productive team. Bad apples can distract the good, positive thinking employees, because poor hires typically carry around some level of complaining and negative energy.
From a timeline standpoint, it’s usually clear by the third month if an employee is a good fit. Still, oftentimes it takes six to 12 months for the employee to exit, either voluntarily or involuntarily. So by the time you find a replacement, assuming it takes two to four months to find a candidate, you have wasted 20-26 months of total productivity.
Most businesses do not have that kind of time, especially when the business is in growth mode.
Developing a Hiring Process
To combat the pitfalls of hiring the wrong person, instead of offering the job to people who simply check a few boxes off of your candidate wish list, build out a formal hiring process. Start by identifying your “A Players,” and list out the characteristics that most emulate your ideal candidates. These traits should extend beyond just college degrees and years of experience to include values, personality attributes and problem solving skills. Create a list of interview questions that play to your company culture. Make sure that each candidate meets with multiple people within the organization so that they are properly screened. While adding layers to the hiring process may extend the timeline of filling the position, it will result in higher quality candidates who are destined for success.
As you enter the hiring process make sure to set realistic expectations about the time frame io alleviate the pressure of having empty seats in the office. Once you build your candidate profile, trust the process, rather than caving in and hiring someone who doesn’t quite fit the bill.
Hiring is one of the most underestimated responsibilities within an organization. Carver Peterson Consulting will help you build out your A Player profile, and help you learn to ask the right questions to identify any red flags in potential new hires. Our goal is to help you get the right team working for you now, versus waiting 20-26 months to find the wrong people. Warning: Headaches and distractions of employee turnover not included.
Contact us for more information.