Hiring people is expensive. Training people is expensive. Losing people is expensive. All costs associated with all employees are expensive. What can you do to lessen these costs? Think of the process not as a cost. Think of it as an investment. Hire smart, train more, and take care of the people that you have.
In a new survey by the Harvard Business Review of over 800 leaders, more than 95% of them said that hiring and retaining talent fell into their top three priorities. That said, according to SHRM (Society for Human Resource Management), 55% of workers say that they need more development opportunities to improve their work. As a Leader, how do you balance the priorities of your organization and provide for the needs of your team?
Let’s start with hiring. SHRM states that the average cost of hiring a full-time employee runs at $4700. Granted, you need to take into consideration your business’s size, location, number of employees, industry, role, etc . . . but geez! Almost 5 grand per employee? YIKES. Before we consider training or retaining, how can you hire better?
Post an accurate job description. Be honest about what the job is. Fluffing it up or lowering it down only wastes your time and the candidate’s. What do you need? What will this person actively be doing? Is a degree really required, or will job experience serve just as well?
Set a clear, systematic recruitment plan. Application, phone screening, first interview, second interview . . . whatever it is, have a plan. Coordinate with your team and with your HR department as to who is going to be involved at what point, and then stick to a schedule. Use internal communication platforms or a project management system if necessary to keep everyone on track. Communicate well and often with your team and with the candidate.
Post internally. Do you have someone currently within your organization who might fit your needs? Promoting from within is motivating and will likely increase employee engagement. Give your employees the opportunity to interview. If they are a right fit with proper training, great! If not, share honest feedback and assign a mentor to allow them the space to gain necessary knowledge.
Be transparent. Be honest. Don’t sugarcoat. Don’t undersell. What is the job, what are you paying, and what is the expectation? Getting someone into a role that they don’t want or didn’t expect is expensive in time and in money. Be straightforward and upfront.
Check references. While we can see many things about an employee online, we can’t see everything. Look at social media, call their references, and run a background check based on the role or your organization’s product.
Offer competitive pay and benefits. You get what you pay for. If you want the best candidate, and if you don’t want to replace that person in a short amount of time, offer reasonable compensation. Shortchanging a solid candidate will cost you much more than a salary.
Recruiting, interviewing, and onboarding are the first steps of a successful employee process. Not sure how to proceed? Message or email me, and let’s work it through together.
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