Hiring Mistakes

What’s the greatest cause of employee turnover today?

An economy flush with career opportunity?  Downsizing? Retirement?  According to a recent study by Harvard University, almost 80% of workplace turnover is due to hiring mistakes.

Many companies spend more time selecting a new copier than they do hiring a new employee.  Yet a bad hire can cost your business between two and seven times the amount of the person’s yearly salary. This figure doesn’t even include less obvious costs like lost productivity, drain on management, and lowered morale.

To combat turnover, avoid these 10 costly hiring mistakes:

1. Hiring Not Viewed Strategically.

Many companies regard their hiring process merely as the method of filling job openings. If senior decision makers are involved at all, it’s often a formality. Yet staffing is a strategic issue that can significantly affect your bottom line.

Don’t be reactive.  Instead, plan for organizational needs, anticipate attrition, develop bench strength in critical areas, and strengthen relationships with staffing partners.

Likewise, your method of staffing should be considered strategically.  Before finalizing any  staffing decisions, make sure to do the following:

Analyze the need and  determine the best  method to satisfy it  (e.g., overtime,  outsourcing,  restructuring job  duties of current staff,  promoting from  within, hiring outside talent, using temporary or project staffing)

Develop a recruiting strategy

Create and follow a structured hiring   process

2. OUTDATED OR INADEQUATE POSITION PROFILES  How can you take aim if   you don’t know what   your target looks like? To   help target qualified   candidates, accurate job   descriptions are essential.   But they are only part of   a complete profile, which   should include the   following:

• Necessary experience,   skills, and talents

• Outline of desired   personality traits

• Description of the corporate culture. Even qualified people won’t succeed if their   values and the values of the organization aren’t in alignment.

•  Key selling points of   the position  (e.g.,   perks, career path,   flexibility) and of the   company   (e.g.,   growth, market   position, career   opportunities)

•  Measurable job objectives and performance expectations

A detailed profile provides guidance to   those who are reviewing the candidates, and it   better ensures that each   applicant is evaluated   using the same criteria.

3. Too Much Reliance on Traditional Recruiting Methods

Read More:

Read “Top 10 Hiring Mistakes”