Hiring an employee constitutes a long-term commitment. It is understandable to hesitate when making a decision that, if not the right one, could prove extremely costly later. A recent survey by Careerbuilder estimated the cost of a bad hire at more than $50,000. However, the labor market is expected to become more competitive as the economy picks up, and a delay in hiring decisions can mean that a company loses a prized candidate.
The chosen interview style can reveal a lot about a candidate. Behavioral interviews are a good way to understand how a candidate might react in a certain situation. Panel interviews provide an opportunity to collect the opinions of a number of supervisors and employees. Developing a rating system that rates each candidate on certain skills according to their responses is a fair and empirical way to evaluate candidates. James Caan of Monster offers additional tips for confident hiring decisions.
- Plan your recruitment process to ascertain an accurate timeline. Use a staffing firm to organize your recruitment efforts; such a firm can provide accurate estimations of days to hire. Use this information to manage the expectations of hiring managers and candidates. Explain the process to candidates so they understand the time frame involved and do not become impatient or accept another job offer.
- Consider what the candidate needs to be aware of to decide if the position is right. Have them meet with managers and staff. If possible, a temporary trial project or time period can ensure the right fit experience-wise and culturally. Both the employer and candidate must be confident with their decision. Use a staffing firm to hire a candidate on a temporary basis.
- Screening and background checking is time consuming but due diligence is crucial to reducing the risk of a bad hire. Staffing companies can perform skills tests and background checks quickly and efficiently. Specialized tools and experienced staff can ensure a thorough and legally-acceptable process.
If one member of the hiring team cannot be convinced that the candidate is not right, waiting for a better alternative may be wise. Everyone must want to work as a team and internal conflict should be avoided. Careerbuilder cites rushing to hire as the most common mistake.