How much is recruiting costing your bottom line? Experts claim that employee turnover can cost you between 25-50% of the employee salaries. According to Forbes, US corporations spend nearly $72 billion each year on a variety of recruiting services, staff, and products – and the worldwide number is likely three times bigger. Businesses spend on average $3,300 per hire on recruiting and this cost has increased 6% since last year. So getting it right the first time is essential to keeping your recruiting cost down overall. Most of us recall a time when we hired what we thought was a perfect candidate to find out that the person that reported to work that first day was an imposter. Hiring managers and human resource professionals often find themselves scratching their head and asking, “How did I miss that?” and “Where is the person I interviewed for this job?”
Nothing is fool proof, but developing a recruiting strategy that encompasses several dimensions can be quite successful. I refer to this method as “Right Sourcing”. Right Sourcing is a Systematic approach to recruiting and selecting the right candidate based on assessing three areas:
- Job Requirements- Does the candidate have the technical skills, qualifications, education and job experience required of the position? This is fairly basic and the most common approach to recruiting. Reviewing the candidates resume and responses in the interview process and comparing this information to the job description is the basis of this strategy. Most hiring managers stop here and base their selection on this sole dimension.
- Personality dimensions- What type of personality traits and emotional intelligence does the candidate portray and how does it relate to the position? There are many different assessments that can be used to identify personality traits and emotional intelligence. The costs range in price, but typically you can locate one for a reasonable cost. I advise employers that it is better to spend a little extra in the process to ensure you make the right selection. The challenge here, however is to commit to using this information obtained from the assessment. If you are going to hire a candidate regardless of the assessment, it may be a waste of your resources. I recall an incident where the hiring manager ignored the results of the assessment and hired the candidate anyway for a supervisory role. The newly hired supervisor struggled in his new position and the operations of the department suffered greatly. After this incident, I began administering the assessment prior to the hiring manager interview and refrained from presenting candidates who did not meet the “personality fit” of the position.
- Cultural Fit- How well will the candidate adapt and perform within the company and their team based on the culture and personalities within the team? Knowing the culture of not only the organization, but the department and the personality of the manager or supervisor is very important. Behavioral interview questions are very useful in this area and a way to evaluate a cultural fit. For example, if the manager is a micromanager, then selecting an employee who is autonomous and unaccustomed to this work environment would be a poor choice. Another example, if the company is a start-up company, hiring employees who are flexible, who will adapt quickly and take on new roles as the company grows and changes is very important.
Regardless of what approach you use for recruiting and selection, collecting and obtaining information from multiple sources can only increase your odds of getting it right. Wouldn’t you rather spend the time and energy upfront during the selection process than dealing with the issues regarding a poor hire?
For additional information regarding recruiting services, human resource consulting and training and development projects, contact Scholley Bubenik at email@example.com. Premier HR Solutions LLC is a full service human resource consulting firm located in Austin Texas serving business throughout the US. Visit us as www.premierhrsolutions.net or follow us on LinkedIn- https://www.linkedin.com/company/3537939?trk=tyah&trkInfo=tarId%3A1403010043332%2Ctas%3APremier%20HR%2Cidx%3A2-3-5