The Importance of Hiring the Right Staff
You want the right people on your team. Every hiring manager will tell you the same thing. After all, making a bad choice here can mean serious costs for you. Unfortunately, those costs aren’t just financial. Instead, they can reach far deeper than that. Wondering what the importance of hiring the right staff might be? Take a closer look.
- The Wrong Team Member Costs Time: When you choose the right team member, they’ll immediately begin working to lighten the load at your company or expand your operations. When you choose the wrong person, though, you’re likely to encounter retraining, constant monitoring, and even the need for disciplinary action. The wrong team members keep your entire team from performing well, and that may not be time you have available. One study found that poor employee performance can take up 70% more time than good performance. If you’re like most companies, you want employees and managers focused on running the business, not wondering whether or not other employees are getting the job done right the first time. This is why we focus on the importance of hiring the right staff.
- You Could Jeopardize Company Growth: Hiring well now could mean that you’re set no matter what changes within your company. A great hire means reducing the number of people you’ll need as the company grows and matures. Good employees take ownership of their work and offer work that helps their company prosper. Choosing the wrong new staff member, though, means that instead of selecting an individual who can contribute to the overall success of your business and ensure you don’t need to hire again in the future, you select an individual who forces you to focus on all the wrong priorities, which means you simply cannot grow as quickly.
- The Financial Costs are Serious: Financial costs are what many think of when they think of what happens when you hire the wrong team member, and they’re not wrong to do so. Turnovers often cost nearly 25% of the salary of the job you’re trying to fill, so making the wrong hire more than once means a real impact to your budget.
- It Might Create Tension Among Team Members: New talent always means a disruption in the team itself, but new talent that just doesn’t fit with your company means an ongoing disruption that could seriously change the cohesion of your entire team for months to come. You may find discord where it didn’t previously exist, and frustration at every turn, if you make the wrong hire. Continual turnover in one position can create an unsettled feeling among team members, too, which may impact productivity. Should you bring in the right team member, though, you’ll find someone who can contribute, not detract from, your company’s culture.
- Productivity Suffers: The hiring process alone costs productivity as often those who aren’t in HR typically have to contribute both time and energy to choosing team members. Choosing the wrong team member could mean ongoing interruptions that take away from what your staff members should be doing on a daily basis. More than that, though, choosing the wrong team member means dedicating time to training that will never manifest results.
- Your Reputation is on the Line: If you choose the wrong person to hire, you’re quickly going to get a reputation both among your clients, current employees, and future job seekers. What others say about your company matters, and hiring the wrong staff could affect exactly what’s being said about you. Hiring the right team member who can respect both clients and co-workers alike means creating the best experience in your vertical for everyone involved, and that can create a solid reputation for your company.
Your hiring policies and procedures are what prevent you from growing in the right direction. Recognize the importance of hiring the right staff. When it comes to creating a plan, setting goals, and keeping you accountable, we can help. Learn more about what we can do for your company now.