From what perspective is it an expensive problem?!
Expensive from a financial perspective, with money being spent on advertising and time lost for the recruitment process – screening, responding, interviewing, background checks, onboarding, and induction. Time = Money. This time costs the business money. A wrong hire receives salary, benefits, and other perks, which can be a significant ongoing expense. Even more expensive if you hire the wrong person and have to start the recruitment process all over again.
Hiring the wrong candidate can also be expensive from a cultural perspective. We’ve all been in that situation where a new hire doesn’t fit in, makes waves, and ultimately unsettles a previously happy and cohesive workforce. The ripple effect from the wrong hire can do untold damage to an existing company’s culture, morale, and team cohesion. It can ultimately lead to valued members of the team moving on to new roles, leaving your company culture in tatters. Employee turnover can increase. Costs increase again.
Hiring the wrong candidate can also be expensive in terms of productivity, with time given by those involved in the recruitment process. Time is taken away from their normal roles, time which they don’t get back. Time = Money.
Hiring the wrong candidate can also have wider repercussions with your internal and external client base. That wrong hire may damage your reputation through their actions and interactions. Reputation can be called into question.
So how can you avoid this?
By utilising a trusted recruitment partner, a recruitment company which takes its’ time to get to know its’ candidates. A recruitment firm which matches candidates to a company’s culture and existing team, whilst considering whether the candidate is right for them and if the company is right for the candidate.
The wrong hire can be expensive to a business.
Work with a recruitment firm who know their candidates and clients well, who will go out of their way to ensure the recruitment process is as efficient, productive and strategic as possible.