Research showed that the cost of hiring the wrong person can be as much as three times his or her annual compensation, if not more. This is why taking the time to hire correctly is an investment in the future success of the company. Clearly defined expectations and appropriate hiring tools will help you and your team make the right decision. Here are the three steps necessary for an effective hiring process:
- Include all of the position’s stakeholders. These are all the individuals who have a direct interest in the position; understand the position intimately; manage or directly report to the position; or who have done or currently are performing well in the position. The stakeholders should meet in a brainstorming session to determine the key accountabilities focused on the five to six main results (big picture) for which the position is responsible.
- Use the key responsibilities, accountabilities and job assessment results to further clarify the finer details of the position. Include the job description during the onboarding process to outline what is expected from the employee, complete with performance metrics of the position as they apply to the key accountabilities.
- Once the key accountabilities and job description are done, the leaders should review the entire hiring process and consider the process from beginning to end.
- How does a department identify the need and get approval for hiring a new employee?
- How and where does the job get advertised?
- How do you source for qualified candidates?
- How do you analyze resumes?
- How do you decide which applicants get interviewed?
- What does your interview process look like? Do you have a defined interview evaluation system?
- Who conducts the first and second interviews?
- How do you decide which applicants move forward for second interviews, reference checks or background checks?
- How do you decide which candidate receives a job-offer?
Hiring needs should be anticipated at least 12 – 18 months into the future. This way you will have enough time to identify the skills and experience desired, and create a salary plan that ensures you can afford the top talent.
The hiring process is just one aspect of a comprehensive human resources program. Recruiting, hiring, training, developing, performance management and firing are all critical processes. Without a full and complete program just hiring exceptional candidates doesn’t ensure that they will be productive or that they will stay.
Critical Questions to Ask
- Does the company have clearly identified roles and responsibilities?
- Does the company have a well-defined hiring approach?
- Does the company recognize quality in the people they are hiring?
- How do you define what makes an exceptional employee?
Staff are a company’s greatest asset. Don’t allow this very important aspect of growing the business to become a last-minute thing. Creating an intentional approach will ensure that you get and keep the right people who truly care about what they do.
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