Hire the Best Job Candidate the First Time Around
Finding good staff can be a challenge for any organization. There’s a lot at stake every time you fill a position at your company. A good hire can increase productivity, while a poor hire often has the opposite effect.
This is one reason why you should never underestimate the importance of good hiring practices.
A Good Hire is Good for Your ROI
According to WiseStep, every employee who is recruited levies charges upon the company, such as salary and benefits, as well as technology and equipment.
Investments in a strong employee provide a better return, that is, ROI (return on investment).
The return benefit exceeds the initial investment. Conversely, a wrong hire leads to poor performance from the employee who then demands more time and can consequently negatively impact ROI.
Run an Efficient Hiring Process
Your time is valuable, as is the time of your top managers. Running a hiring process means pulling high-level members of your team out of their day-to-day routines and having them review applications and conduct interviews.
When you have four or five interviews every day for a few weeks, it’s tough to get much of your other work done. A quick and thorough hiring process allows you to get back to work sooner and with greater efficiency, according to background screening expert Michael Klazema.
Protect Your Company’s Image
When your company culture goes downhill, word will always get out, says Klazema. If your employees aren’t saying good things about your business (or if they are leaving because they are no longer happy with their jobs), those things reflect poorly on you as an employer.
For instance, if you have to post the same job twice in a short space of time, that reflects poorly on you as an employer. Hiring the right people the first time will help protect your reputation.
Build a Culture Workers Want to Join
If you’re hiring talent from younger generations you need to realize how important the work environment is to their motivation and happiness.
Building a work environment that the millennial generation can thrive in might require some changes to the traditional office structures, says Eric Spratt, founder of Revenue River, a digital marketing agency. Millennials want cool technology as well as snacks, games and fun team outings.
You might have to invest more in your environment. But that’s not necessarily a bad thing, as these things can also positively affect other members of your team in different age groups.
Surround Yourself with Good People
Newfoundland entrepreneur Glen McKay says he looks for bright, hard-workers, who are self-motivated and can offset any weaknesses he might have.
“If you truly value your workers, they will naturally increase the value of your business. It’s also important to foster a team spirit and that’s true in any business.
These kinds of principles, along with solid remuneration are important and hold true in any business enterprise, regardless if you are running a public or private company,” McKay said in an interview.
Outline Your Vision for the Future
Good employees dream of a rewarding career where they can grow and be motivated to evolve in their work, learn new skills and tackle new challenges, says Pratt. The wrong candidates are just looking for a job. So you need to help good candidates see the value of your company. Tell a story about someone in your organization that achieved exactly what they wanted. Help potential employees visualize their role and unique contribution as the company grows, creating a positive vision they’ll yearn to be part of.