300%. That’s a good answer and we hope you have not had to incur that level of cost too often!
In general, we would expect the average cost of a poor hiring decision to vary between 1 and 3 times the salary of the individual; we need to include all the costs associated with a poor decision – not just the direct costs of and time spent in re-advertising and interviewing, but also the direct costs of a poor performer for the first 3 months of their probation and the time before they leave, plus the cost and time to induct a new recruit, and the associated impact on the rest of the team.
- 1 Determine exactly what your new hiring opportunity is? The more specific you can be about the roles you want the hire to play, together with the competencies and behaviours you want them to demonstrate, the easier it will be to create the right advertisement and conduct the most appropriate interview.
- 2 Involve as many of the team in the hiring decision – they have to work with that person, so work with them to create the ideal environment for success.
- 3 Advertise your vacancy in the most appropriate locations – be it internet “job boards”, networking sites like LinkedIn, or in print in respected journals.
- 4 Use job-specific assessment tools such as Harrison Assessments to help you understand which applicants are both eligible for and best suited to your vacancy; this will simplify the short-listing process and give you the best chance of success.
- 5 Interview in a structured manner to elicit everything you need to know to make the right choice.
To appreciate how an effective development and appraisal process can help you retain your best people
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To appreciate the benefits that the unique Harrison Assessments can add to your recruitment, retention and development processes
Click here (Download PDF)
