One of our most read blog posts is “What’s the cost of hiring the wrong person?” And in that post, we reviewed how some industries like Finance for example, can cost of up to $50,000 when hiring the wrong person. Whatever the industry the costs can be great in terms of hard and soft costs. Our goal today is to avoid some of those mistakes that can cost a business tremendously. Below is a list of some common mistakes in the hiring process that can absolutely be avoided.
- Poor Hiring Patterns: Most companies should have a solid grasp on what hiring tactics work and or the types of personalities needed for a position. Repeating the same hiring patterns or mistakes without thinking through the lessons learned from previous hires will continue to give you the same results. If there’s a problem in your hiring process, you must fix it, or you are doomed to repeat them and essentially add substantial and unnecessary costs to your business.
- Inconsistent Talent Pool: If you’re consistently struggling with having qualified candidates in your talent pool, this will no doubt lead to poor hiring mistakes. Take the time to cultivate multiple channels to recruit talent such as job boards, referral networks, industry associations, social media or even your website. If you’re still struggling with this, work with a recruiting consultant who can help improve your talent search and get you the right candidates.
- Ineffective Interview Process: Most companies have issues with their interview process, mostly due to a struggle with bandwidth or an increase in hiring demands. For that reason and among others, they tend to veer off course and cut corners and ultimately make poor hiring decisions. Sticking to a proven system can save a company a substantial amount of time and money. We’ve mentioned this before, if there are cracks in your process, work with a consultant or third party recruiter to help repair those issues and get you back on track.
- Involving Key Stakeholders in the Hiring Process: Nothing is worse when you hire what you thought was a great candidate, but another team member doesn’t like them. It happens too many times, and it shouldn’t. Getting the right team members involved (not everyone, only the necessary ones) and getting their buy-in is essential to that candidate’s success.
- Checking References/Background Checks: Employers can’t afford to take chances when it comes to checking references and preforming background checks. Aside from a dependable, trustworthy employee, define what’s essential in a particular position and find out from that person’s references if they have the ability to deliver. There may be legal ramifications let alone monetary ones if employers don’t due diligence when it comes to hiring.
- Rushed or Prolonged Hiring Methods: All hiring managers have been there, feeling the hiring demands from internal departments. We understand how the pressure to perform at ungodly speeds can be overwhelming. Still, that won’t stop the demands from coming. Educating other departments about your hiring process is essential. There should not be any reason to shirk the system. Stick to your guns and give those that have an immediate need a contract or temporary option. Conversely, you don’t want the hiring process to be prolonged. If it does, it usually irritates the candidates, leaving the candidate wondering about the company’s management style or culture. If you leave a highly qualified candidate waiting too long, in most cases, they’ll bolt. Great talent doesn’t stick around.
These are just a few of the top mistakes companies make that can cost them significant dollars. Adapt the types of processes that can help your company be more efficient and acquire the best possible candidate.
ABOUT THE AUTHOR, Ingrid Moore
Ingrid Moore is the Founder and CEO of Corporate Resources of Illinois, an employment & staffing agency withover 20+years’ experience located in Schaumburg, IL. Ingrid and her team assist employers with finding the right hire for their business. For more info, follow us on our LinkedIn Company Page, or follow us Corporate Resources of Illinois‘s Google+ page.
