Are you a business owner or a hiring manager that hires people on a regular basis? Would you like to maximize your ability to hire the right person? According to the SHRM Human Capital Benchmarking Report 2016, the average cost for a company to hire an employee is $4,129. Furthermore, ERE Media estimates that the real cost of employee turnover ranges between 30-50% of their annual salary for an entry level employee, 150% of their annual salary for a mid-level employee, and up to 400% of their annual salary for a high-level employee. The bottom line is that making a bad hire can be extremely costly to your business. The good news is that if you focus on following 3 keys, you have a very good chance at avoiding hiring the wrong person for the job:
Key #1 – Can They Do The Job?
The first key is to make sure that the person you are looking to hire has the right skills and experience to do the job. While this sounds rather elementary, oftentimes it’s not easy to determine if this is the case. Most people in an interview situation will put their best foot forward and work hard to convince you they can do the job. Furthermore, they might even tell you what you want to hear, even though they’re not sure if they are qualified themselves.
Here are some keys to make sure that you nail this part of the hiring process:
1. Conduct a behavioral interview
Make sure that you actually test out the behaviors and skills that will be part of the job. For example, if you are interviewing for a sales position, have them sell something to you during the interview. If they are applying for a design position, have them design something for you. The key here is to identify the skills they need to possess, and test them to make sure they have those skills.
2. Conduct multiple interviews
It’s always helpful to have multiple people interview the person you are looking to hire. That way, you have numerous opportunities to identify if they can do what they say they can.
3. Do an assessment on them
There are many great employment assessments on the market that will test for behaviors, motivators, and even job competencies. The great thing about using an assessment instrument is that you get actual black and white data to make sure you are making the right hire.
Key #2 – Will They Do The Job?
The second key to making the right hire is to make sure they’re actually motivated to do the job. Usually the biggest mistake hiring managers make here is hiring someone who is overqualified for the job. Being wowed by their skills doesn’t necessarily mean they are a good fit. If they are overqualified, they may get bored quickly. Also, if the salary and benefits aren’t an upgrade for them, that may quickly lead to a loss of motivation. Keep in mind that there is a difference between being motivated to get the job vs. being motivated to do the job. Asking the right questions around what’s motivated them in the past and looking for patterns can help you to understand what they are naturally motivated by.
Key #3 – Are They A Good Fit For The Team?
The third key is to make sure they are a good fit for the team. There’s nothing worse than hiring someone who is well qualified and passionate about their new role, but who ends up creating problems and destroying the team’s chemistry. The best way to avoid this issue is to make sure that the people who will be working with the person have a chance to interview them. Also, being aware of the person’s personality and your business culture to make sure there is a good fit is also important.
If you can successfully answer these three questions, your chances of hiring the right person go up exponentially!