Every HR team knows that a bad hire is expensive. But do you know just how expensive? According to the US Department of Labor, a single mishire can cost upwards of 30 percent of that position’s five-year earnings. The higher up on the corporate ladder that position, the more expensive the loss.
If you’ve been plagued by one too many bad hires on your team, here are five tips to help you make stronger choices.
One: Understand The Precise Skills You’re Looking For
No two positions are the same. HR teams must be able to sit down with team leaders and understand exactly what types of hard skills, soft skills and qualifications the ideal candidate must possess in order to be successful. It can help to ask the manager what went well and what didn’t with the person who previously held the job.
Two: Don’t Neglect Pre-Screening
HR teams are more overworked than ever before. This can lead to an “autopilot” approach, where teams are apt to cut corners, especially in the pre-screening phase of a search. Screenings and assessments are highly effective tools for evaluating candidates’ skills and personality. Be sure to build in proper time to devote to pre-screening in order to weed out potential bad hires early on in the process.
Three: Conduct Reference Checks
Like pre-screening, reference checks can often fall by the wayside in a job search, especially if managers are putting pressure on HR teams to get a body in a seat. However, thorough reference checks are the most effective way to spot possible red flags. Don’t just verify employment; connect with former supervisors and coworkers to ensure that a candidate possesses the skills, talent and personality to succeed.
Four: Start Focusing On Passive Candidates
Ideal candidates aren’t likely to come knocking on your door. Top talent is already employed, and they may not be actively searching for a new position. Building a pipeline of passive talent takes a great deal of time and effort, as you have to be on someone’s mind at the exact time they think about making a change. However, this effort can pay dividends in terms of landing the right person for a job.
Five: Develop A Strategic Partnership
Most HR teams are stretched too thin to even begin to think about overhauling their hiring process. There is a simple solution that can ease the strain on HR teams while benefiting the company as a whole: a strategic partnership with a recruiting expert. A staffing partner will assume the responsibility of properly vetting candidates before they ever set foot through your door for in an interview, freeing up your internal HR teams to focus on other efforts. Because they have the time and the proven processes in place, strategic recruiting partners can help you diminish your overall hiring risk.
Discover the difference that a strategic partnership can make on your bottom line. Contact the recruiting experts at Contemporary Staffing Solutions today to learn more about our proven recipe for success.