Hiring someone you have never met before presents risks, uncertainty, and challenges. Time will reveal whether your decision was an impulsive error or an intuitively correct one. When multiple managers are involved in the hiring process, the process is exponentially more challenging. It is inevitable that there will be some inconsistency between the characteristics and perspectives that you hire for. This is because each hiring manager selects candidates based on his or her own leadership paradigm, experience, and business imperatives.
Making good hiring decisions requires competency-based interviewing skills. The cost of a bad hire is 30% of the employee’s first year’s salary (source: U.S. Department of Labor). There are several ways in which bad hiring decisions can cause organizations to lose money, including lost productivity, lost clients, damaged reputation, reduced teamwork and employee morale, training and supervisory expenses, and other recruitment-related expenses. It happens when hiring managers are not aware of the characteristics to look for in a candidate and fail to ask the right questions.
By adopting a structured and comprehensive hiring process, the organization can position itself to attract the best candidates. The type of individual that will contribute to the company’s culture, drive sales, and ultimately position the organization as a leader in its field. When hiring, both skills and personality should be considered. To achieve your business goals, it is important to ensure that your potential employee has the necessary skills for the position.