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The Cost of a Hiring Mistake

November 28th, 2014

Too many hiring managers make the same common and often expensive mistake: They confuse a low- responsibility position with a low stakes hiring decision. For example, they invest in careful reviews, extensive vetting, cold sweats and lost sleep while looking for a mid-level manager with eight direct reports. But they don’t put the same effort into an entry level role or a stock room position. Then they make an avoidable hiring mistake and need to start the process over…at a cost that may equal or exceed the annual salary for the position. Before you follow in the footsteps of these unfortunate managers, keep a few considerations in mind

Create a budget.

How much will your hiring process actually cost? If you don’t know, it’s time to find an answer. Include both hard numbers and intangible estimates in your equation. For example, factor in the cost of your hiring manager’s time and the cost of your contract with a staffing company, but make sure you also include the amount you stand to lose each day as long as the position remains empty

Listen, don’t just talk.

Don’t assume that you hold all the cards during the selection process, and don’t patronize your candidates or assume they’ll be eager to jump through hoops to please you. Instead, focus on what you have to offer, not just what you want. Make sure your candidate can tolerate the commute, make sure you can provide what she’s looking for in terms of advancement, and encourage her to talk about her long term plans so you can see how well your own plans measure up. If you don’t listen, and you candidate leaves the company five months after her start date for predictable reasons, you’ll have nobody to blame but yourself.

Focus on cultural adaptability.

You understand the ins and outs of your own workplace culture (or at least you should). But your candidate can’t be expected to speak about this. She has no experience with this workplace and has no way to assess the likelihood of a match, so you’ll need to take full responsibility for this task. Don’t ask your candidate “Will you fit in here?” Instead, ask her about her preferred work style, her personality, her approach to leadership, and her cultural expectations. Then make your own decision about how well she’ll get along with your current teams. If she isn’t happy, you won’t be happy.

For more on how to find a candidate that can maximize your returns on an expensive hiring investment, contact the experienced staffing professionals at Merritt.

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