Bad hiring is a bad investment and no one is interested in investing their money without any fruitful return.
So when you are investing your money you make sure that you will get good returns and then only invest your money in them and it is the same thing with hiring too.
As a company you will only be interested in candidates who will be delivering you great performances in future, but in case you hire someone who turns out to be a non-performer then you will be highly disappointed as you have invested so much time and money in training them.
It is quite dicey when you are taking interviews because in those few minutes you won’t be able to judge the person sitting opposite to you fully and this may lead to bad hiring.
It is important that we learn from our mistakes and don’t repeat them as it will not be good for the company.
If you have gone through bad hiring in the past then take your lesson from there and try to avoid going through the same thing again.
Cost of bad hiring Decisions:
You will be shocked to know how much of money is spent in hiring process. The cost involves advertising in different media, benefits of the interviewer provided by the company, fees of recruitment agency and various other options.
If all these money is invested in getting a bad hire then it will result in low productivity and even the worst will be, due to bad customer service you might lose out on potential customers.
One bad hire will mean another recruitment process which will help in recruiting someone efficient and that will add up to the cost of the company only.
The training time is wasted too during the period, instead if a good hire was made then he might have started giving productive hours already.
Bad hire is not only affecting the company financially and it is also affecting the morale too. People get affected by negative morale much easily than getting influenced by positive things.
Avoiding the bad hiring decisions:
When we are arranging interviews we must be very clear in our mind about the requirements of the post and the qualification and skills that you will be looking into for this.
You must be stringent in your selection policy else it might hurt you badly.
1. Don’t decide in haste:
Don’t be in a hurry to fill in a vacant position because if you go for a bad hire then it will cost you much more than an empty seat.
The productivity might suffer because of less employees but it will affect you more in case of bad hiring decision so take your time before deciding.
2. Chalk out what you are looking for in the candidate:
Interview room is not the place to test skills as it is simply not possible but what they do is test the ability of the candidate to grab things easily or how they are as a team member.
Are they confident about themselves and what they know? Whether they have the communication skill or not!
You can judge him by the certificates that he produces but how much working experience he has is something only time can tell.
So when you are going to interview the candidate be completely clear about one fact and that is what qualities you are looking for in the candidate.
3. Ask Right and relevant questions:
In the interview you must indulge in open- ended questions which will allow them to provide an explanatory answer rather than answering in a yes or a no.
This will make you understand another thing and that is whether the candidate is telling the truth about the skills that he has or not.
Give him some situation and see how he reacts to them or make him relate stories from the previous company where he went through same experience and how he handled the situation.
Through these questions you will be able to judge the person’s personality and will also help you decide whether he will fit in your company’s environment or not.
4. Detailed job specification:
When you are giving out advertisement for the vacant position then provide detailed information about what you are looking for in the candidate and also mention that only those who fit the bill must apply for the position else it will be a waste of time for both.
Either the skills that are required for the position be mentioned clearly to get in the genuine candidates apply for the position, else you are inviting in a sea of resources making it all the more difficult for you to decide who will be best suited.
5. Taking References:
If you are looking for a specialized position then references are good way of getting the job done.
When someone has been referred then you have someone to fall back on to know how their performance is and if the source is true then you will have a batter hire.
It is very important that the companies make sure that they verify the performance record with previous company so that they know whether they are going in for a good hire or a bad hire.
One phone call will be enough to go through the past record of the candidate’s performance.
6. Better go for Recruitment Agency:
If you are not sure then it is better that you take the help of recruitment agency. They have the experience of carrying out the jobs for years and they know how to refine the specification for the particular job.
Moreover they have a whole list of candidates ready always, so when you say that there is a position vacant in your company and you need suitable applicant for that.
Then you just have to give them the specification and they will go through their database to find a suitable candidate for you.