The Importance of Hiring the Best Employee
The Importance of Hiring the Best Employee
Recruiting the right employees first time is crucial to the success of your business. Here are the main 5 benefits of getting it right, however they do not stop here, effective recruitment can create a snowball of benefits!
After a record decrease during the lockdown, the easing of restrictions has caused a complete U turn in job vacancies and many employers are beginning to recruit again. As business have started opening and the hospitality industry has been allowed to re-open, job vacancies in hospitality and entertainment are particularly rising.
At the same time, redundancy levels are very high as a result of the COVID pandemic and many people are unemployed and looking for work. This means, that not only do candidates have a luxury of choice but recruitment agencies are also seeing an increase in the amount of people looking and applying for jobs, giving employers more talent to choose from. Subsequently, the workload has increased along with the demand for consultancy support as organisations are needing guidance whilst focusing on recovery and growth.
As a business, it is important to take advantage of this increase in candidates whilst making sure the right person with the highest skills is chosen for the job role. If the wrong person is chosen and you have to look for another person to fill that role and go through the whole recruitment process again, there is a high chance your business will have minimised productivity. However, if you choose the right person for the role there will be a snowball of benefits for your organisation:
1. They will help assist business growth
Often, employers recruit new employees with a focus on the short term benefits they can bring to the business. Maybe they have similar attributes to the person they are covering or maybe they had the relevant experience that would help with a current project? When your business begins to look at candidates as a long-term investment will be when growth occurs.
Hiring the right people today can minimise the amount of time and money spent on hiring more people as your business expands. Candidates who are genuinely interested and passionate about your business will be keen to grow their role, making them more valuable in the long run.
2. Employers won’t have to train employees who aren’t staying
The whole hiring process requires a lot of time and effort but often the biggest task is actually onboarding the employee once they’ve joined the company. It can take months to train even the most talented employees up to the company standards, meaning there is already a time period where maximum productivity is not reached.
Spending a lot of time and effort on training somebody who doesn’t end up being a permanent part of your company is arguably one of the worst parts about a bad hire. Let alone the fact you’re going to have to do it all over again when you hire someone to fill the role3. Lower turnover costs
Did you know that employing the wrong person can cost you between 3 to 7 times the employees annual salary by the time you put it right? When it comes to recruitment there is no room for errors and a simple ‘gut feeling’ just won’t cut it!
Hiring the right candidate first time round will mean they can immediately start adding value to your business and earn back the money spent on recruiting them. A wrong hire means you will be hurrying to replace someone (costing you money), whilst the right person could have been making your business money.
4. Preserve the morale of staff
Look at your organization as a puzzle, with every employee as an individual piece. When a bad hire occurs and somebody joins who doesn’t fit into the ‘puzzle’ or follow the workplace culture, this can damage the morale of existing employees. Low morale can cause a multitude of issues such as missed deadlines, decline in service levels and an overall decrease in work quality.
However, a good hire (especially first-time round) can increase morale of your company by bringing innovative ideas, passion, warmth and inspiring other employees. High morale can be a catalyst for improved productivity, attendance and performance in the workplace.
5. Protect your image as an employer
Poor hires will almost always harm your business in one way or another. Whether it be by hurting client relations, creating a bad atmosphere in the workplace or even by posing a safety risk to other staff: all of these will contribute to a decline in company culture.
If employees are unsatisfied and therefore speaking negatively about your business or even leaving because they are no longer happy, this will reflect negatively on you, as the employer. Additionally, re-posting the same job advert within a short period of time because of a recruitment error will also reflect poorly on your business. Recruiting the highest performing people will protect your reputation.
If your business wants to ensure that you recruit the right people and do not have to go through the hiring process twice due to a bad hire, then the team at Be More Effective are here to help. Be More Effective accelerates business growth from the inside out by finding, developing and aligning top talent; lifting individual confidence and enriching personal business skills, and by improving staff engagement from the bottom up, all of which together ensure both immediate and sustainable improvement in activities and results.