THE TRUE COST OF A BAD HIRE
No matter how scrupulous your interview process, every business experiences recruitment mistakes – you simply can’t get it right all the time.
There are several reasons for bad hires occurring. Most commonly, businesses need to fill a position quickly and don’t take the time to research an individual’s skillset thoroughly before offering them the job. In other cases, adequate reference checks aren’t carried out or companies work with a recruiter that fails to grasp their requirements – something we believe there’s no excuse for.
However, aside from the obvious financial implications, have you ever considered the overall effect that a poor placement can have on your company?
Seeing other staff members being hired then fired can have a significant effect on team morale. It causes people to question their own job security, stifles the development of valuable colleague relationships and, if not handled correctly, will eventually begin to affect your overall culture – something that you’ve worked hard to create.
The best way to overcome this is through good communication when team changes are necessary. Being transparent and honest with longstanding staff members will help maintain their trust and give them the confidence that you’re committed to finding the right person for the role next time round.
Sometimes, you’ll know within days that things aren’t going to work out with your new recruit, but it’s more than likely that it’s a few weeks or months before cracks start to appear.
By this time, you’ll have invested valuable time and resources into bringing them up to speed. It’s extremely frustrating when these efforts go to waste and a situation that every employer strives to avoid. What’s more, the productivity of those responsible for carrying out the training is damaged, which could affect their enthusiasm for assisting future new hires.
If your staff are client-facing, it’s even more crucial to get recruitment right. You want your employees to build strong, lucrative relationships with clients that will have a positive impact on your bottom line.
If a client is faced with ever-changing account managers or points of contact, they’ll struggle to take your company seriously. This could lead to you developing a poor reputation and even see them taking business elsewhere.
So, next time you have a role to fill, rather than rushing to plug a gap, focus your attention on finding the absolute perfect candidate. It may take slightly longer, but by working with a quality recruiter, you can speed up the process, minimise stress and ultimately, save in the long run.
Drop Roebuck a line and together, let’s protect your business from the effect of bad hires.