It is vital that you take the time needed to make sure your new hire will be a good hire. The cost of a bad hire can add up quickly when you consider the prices of training, productivity losses, HR, interviewing, and employment ads. According to a study done by the National Business Research Institute, the financial loss of a bad hire can range from $25K to $300K depending upon the position you are hiring for.
When the new hire shows up in your office with their two-week notice, or just never shows up to work again, there goes all that time and money invested. Hopefully, you are asking yourself, “How do I avoid turnover and retain my new hires?” The main things to think about when choosing a successful hire are; how passionate they are, if they fit well within your company culture and dynamics, and if they plan to stick around and make their way up the ranks. This breaks down into 8 key things to think about when bringing a new person onto the team.
1. What Defines a Bad Hire?
The National Business Research Institute also asked companies what they considered a bad hire. The companies that were interviewed reported that the majority of the reason for hiring was a poor work performance.
Main Reasons For a New Hire to Be Considered a “Bad Hire”
Quality of work was lackluster- 67%
Failure to work well with other employees- 60%
Negative attitude- 59%
Attendance problem- 54%
Complaints from customers- 44%
Failure to meet deadlines- 44%
The highest-ranked reasons for an undesirable candidate can be remediated by hiring someone who has a passion for their work and fits well into the company culture.
2. Will They Be Reliable and Efficient?
Before you conduct any interviews, you can weed out some undesirable candidates through testing. Unqualified applicants can be eliminated with a skills test. There are also personality and integrity tests candidates can complete to get a better sense of how they will interact within your company dynamics. Find out if the potential candidate will fit into your company culture by using Saberr. This test uses a psychometric profile for better onboarding by focusing on relationships between people.
When they have passed these tests consider taking a look at their social media accounts before bringing them in for an interview. Most people indicate where they work on their page and post things on social media about their job. If the applicant continuously posts inappropriate comments or pictures, you would not want that person representing the company.
3. What Was Their Behavior Like During the Interview?
Did the candidate arrive early? Being on time for an interview can be a good indication of whether or not they will be punctual in the future. How much did the applicant know about the company? If they are really interested in the position they will do their research and perhaps even have questions. Are the questions the applicant has about the job itself and the company, or are they only concerned with benefits and pay?
4. Questions to Ask the Candidate During An Interview
Tailor your questions for answers that will show if the candidate is listening and interested. Think about your company values and determine if they will fit within those guidelines. Keep in mind that this person will be spending potentially 40 hours or more with everyone at your business. How will this person influence the workspace? You want to hire someone who will mesh well with your work squad and contribute to a positive atmosphere. Make sure to ask these questions during the interview to optimize results.
Why do you want to work here? An applicant who is passionate about the company will often lead to a committed employee. A passionate new hire who is driven to succeed can prove to be more valuable than someone who may have had more skills or qualifications and no passion.
What do they need to succeed? Hiring is a two-way street and if your new hire is happy, that will likely influence their performance positively. When you know what their needs are and you can meet those expectations, that sets everyone up for success.
How do they handle stressful situations, deadlines, and conflict in the workplace?
Do they want to grow within your company and what are their long term goals?
5. Consider Working With a Recruiter
Working with a recruiter makes the hiring process more efficient. Time is money and a recruiter can take the time needed for finding the best candidates. The best fit isn’t necessarily the most qualified and recruiters know how to differentiate. They can also seek out candidates that are currently employed but would be interested in the position. Working with a recruiter’s expertise could mean finding applicants that may have otherwise slipped through the cracks.
6. Does Your Onboarding Process Help You Retain Employees?
If someone quits within the first month, that new hire was not really worth the effort. To avoid this make sure the new employee is set up for success. New recruits should have access to the systems they will need to be using, proper training, or even simple things such as parking instructions. Having a practical onboarding process routinely in place will help to make any new hire feel welcome. An employee that feels appreciated is much more likely to stick around.
Give the new recruit a clear-cut job description and define what will be expected of them. Ensure they have set goals that can be achieved and conduct weekly meetings to check in with them and their progress. Ultimately, they should feel valued and connected to their work community and know that the work they do matters.
7. What Does Your Job Posting Say About the Position?
Spend some time making the job description clear. Be extremely specific about what their tasks will be and the skills you need them to have. Avoid being generic about anything as that will attract generic applicants. As you are writing think about the needs of the applicant, not your company. What does your company have to offer its employees? Focus on marketing the position you have available. If you offer amazing benefits or have happy hour every Friday, include that. The more specific you are, the greater your chances are of appealing to the right applicants.
8. Consider Hiring Paid Interns
Bringing any new hire on board will offer a fresh perspective. An intern offers a new outlook and you will get to know them without having to provide the same benefits as a traditionally hired employee. Encourage your intern’s participation in meetings and make them feel valued and appreciated as you would with any other staff member. When it is time to hire someone, consider your intern. You are already familiar with your intern’s work ethic and have a candidate you know you can trust.
If you decide to hire an intern, pay them. An unpaid intern will probably need to have a paid job in addition to the internship. A summer internship can cost up to $9,500 in a city like LA according to a study by CNBC and many cannot afford that. Being overworked will force them to give less to the internship, be stressed out, and ultimately not performing at their best. An unpaid intern may feel like their time is not as valuable as everyone else’s. A paid intern will have a better work ethic knowing they are getting a little more out of the bargain than just the experience.
Having an intern can increase your company’s productivity by giving them manageable tasks. Handing over responsibilities will help your employees focus their time and energy on assignments they wouldn’t have been able to do without the intern’s help.
Your Next “Good Hire” Is Out There
Recruiting new hires can be an exciting or stressful time. Make the most out of it by working with a recruiter to help you put your best foot forward in the hiring process. Utilize these tips and with a little bit of luck, your company can find a good hire.