You’ve probably experienced the anxiety of one of your employees moving on and leaving a void in your operations. You feel the panic rising as you realize you need to find a replacement quickly so can you minimize the effect on your company’s productivity.
But – rushing to hire someone to fill the opening can result in more significant headaches and add some substantial costs if you make the wrong choice. Hiring a new worker is expensive even if you find the right one the first time. If you get the wrong one, however, those expenses will multiply.
Here are several reasons to be careful when picking your next employee:
Wasted Training Costs
The amount of training you invest in a new employee can run into the tens of thousands of dollars, depending on the type of job it is. Even with jobs that don’t require extensive training, someone from the company will be taking time from their production to get the new hire up to speed.
If the person works out, the time and expense to train them are well spent. If you’ve chosen the wrong one, however, the training will have been wasted, and you’ll need to start the hiring process from scratch.
Extra Recruiting Costs
After you realize your hiring mistake, you’ll be forced to pay the recruiting costs once again. Consider the costs that may come with utilizing a recruiter in your search, coupled with the potential costs of advertising the job opening, sorting through resumes, and interviewing more applicants. All of the recruiting expenses you had hiring the wrong worker will be repeated in your search until you secure the right one.
Damage to Your Organization’s Reputation
When an employee doesn’t work out, you have no choice other than to let them go. Most discharged workers will act professionally, while others may seek retaliation by spreading misinformation about the company. Once the word spreads, your business could have difficulty finding new customers and recruiting top talent. You probably won’t find out about the rumors or reviews for some time, and even when you do, it won’t be easy to defend yourself against them (or to have them removed from the internet).
Losing Customers
The wrong fit can damage your relationship with even your most loyal customers quickly. Once your customers lose their comfort level with the new employee, they will start looking elsewhere. Even if the new hire isn’t making direct contact with customers, the lower quality of work being produced will eventually put a strain on the business relationship.
After you have released the employee, get in touch with your customers immediately to assure them you have remedied your hiring mistake.
Missing an Opportunity to Hire the Right Candidate
When you rush into a hiring decision, you could be missing out on finding the ideal worker. While you were spending months training the wrong person, some other company might have hired the worker who was much better suited to your company. By taking your time and getting the right individual the first time, you can avoid these frustrations and save your organization a lot of extra costs.
Work With Us!
By working with The Resource, we can help you to avoid these hiring mistakes. Our expert staff and CORE Assessment ensure you find your ideal match the first time. Every client and candidate is an individual with specific needs and goals. That’s why we stay on top of trends and anticipate demand, creating solutions that are proactive, not reactive. These strategies allow us to bring a revolutionary tailored approach to placing a top performer in every seat of your organization. Contact us today to learn more about our CORE Hiring System!
