Category Archives: Hiring
Scary Costs of Hiring the Wrong Person
“80% of employee turnover is due to bad hiring decisions.” – The Harvard Business Review.
When it comes to deciding on your recruiting methods and selecting the right candidates, the amount of choices available to you is nothing short of daunting. Unfortunately, making the wrong hiring decision can cost you time and money.
There is a wide disparity about what a wrong hire can cost a company because there are so many variables. But the cost of selecting the wrong person can run into the hundreds of thousands or even millions of dollars, not to mention the potential negative impact to a company’s reputation, morale, and productivity.
Specifically, recruiters have been known to say that a poor hiring decision for a candidate earning $150,000 per year could cost, on average, $375,000, and that expense comes right off the bottom line.
Finding the Right Employee in 6 Steps
Hiring is more of a headache than ever, so say many companies who receive services from my firm. This might come as a surprise considering that there’s no longer an overheated talent market in which companies desperately compete for top talent. But instead, business owners are facing a down economy in which scores of job seekers clamber over each other in order to land scarce positions. The influx of new candidates into the marketplace makes it even more difficult for executives and hiring managers to find the perfect people for open, high-impact positions.
And yet, hiring the right person is more important than ever. A single bad hire can cost between $60,000 and $120,000–that’s not exactly the way you want to spend precious dollars in a difficult market.
Let The Rabbits Run
Job match is an integral part of a candidate’s actual on-the-job success. Job match refers to how well an individual’s cognitive abilities, interests, and personality traits match those required for success in a particular job.
To illustrate, let’s paraphrase the parable “Let the Rabbits Run,” from the book Soar With Your Strengths:
Hiring Winning Talent
In its most simple definition, talent is any individual who has the capability to make a significant difference to the current and future performance of the organization.
It is no wonder that more and more organizations are realizing the importance of good talent as a competitive edge. The scary thing is that in the next 10 years, HR professionals expect three out of ten employees in their organization’s workforce to retire. That’s a lot of talent leaving organizations.
Tips for Finding and Hiring the Right Employee; The First Time
Hiring the right employee, the first time, is probably one of the hardest parts of running a small business.
And nothing is more costly than getting it wrong.
Sometimes hiring mistakes are unavoidable, but with preparation, a firm understanding of your needs, and a targeted search, you can often find exactly the right candidate for your needs.
Small Employer Hiring
Small businesses are the backbone of the economy, and on average employ 1 to 10 employees. Many of these business owners have previously worked in corporations, and falsely believe they don’t need a systematic way of hiring due to their smaller size. While they may be right about not needing a formal hiring policy like a larger company, cutting corners and using subjective tools and practices will not protect them from litigation. The sad fact is that a small employer is more likely to make a hiring mistake for multiple reasons, mostly due to lack of experience in hiring. They are under the mistaken belief they can coach and motivate anyone for success. Their lack of awareness simply creates sleepless nights and unnecessary expense of hundreds (if not thousands) of dollars!
5 Classic Interview Questions Updated for Today’s Job Market
How common questions have evolved and what to listen for in the responses
In previous years when giving a job interview, you know the standard questions to ask. “What is your biggest weakness?” “What interests you about this position?” and “Why do you think you’d be a fit for this role?” often rise to the top of the common interview questions list.
Many GREAT companies are updating their customary questions to include ones that refer to new trends, address the current economic situation or gauge a candidate’s commitment to the company and position in question. In today’s job market employers are searching for GREAT employees, those with intrinsic qualities that are predictive of success in their position.
How to Spot a High Potential SuperStar Salesperson – 6th Quality
The sixth and final quality is the most difficult to spot, and the quality which drives all the others to optimum use — PERSONAL MOTIVATION.
The best salespeople all have within them a drive to excel. Continue reading
How to Spot a High Potential SuperStar Salesperson – 5th Quality
Fifth is A SELF-IMAGE OF SUCCESS.
Psychologists have long known that people tend to live up to their image of themselves. We all understand that.
Every one of us can think of individuals in our own lives who have lots of ability and potential, but who never live up to that potential because of their poor self-image. Continue reading
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