Quality hiring is essential for success. However, companies often fail to evaluate the effectiveness of their hiring practices. Could your organization be doing better?
If you answer “yes” to any of the questions below, you may need to reconsider how you hire.
Do You Have a Candidate Shortage?
Too-few applicants leads to empty seats and damages a company’s bottom line. Scott Wintrip, author of High Velocity Hiring advocates starting with “a blueprint of who is the right talent.” He uses a simple four-quadrant system called a Hire Right Profile that lists 1) Dealmakers (must haves), 2) Dealbreakers (must not haves), 3) Boosts (pluses) and 4) Blocks (minus). In a tight labor market, realistic expectations and flexibility are important for organizations of all sizes. Maybe your dealmaker is really a boost and your dealbreaker is merely a block. In addition, strategies such as upskilling and reskilling can help your company to broaden your applicant pool, while still attracting quality candidates.
Solution: Rework your hiring criteria and job descriptions.
Is Turnover Higher Than You Would Like?
Turnover includes bad hires and poor fits who are asked to leave their positions, as well as unhappy employees who exit on their own. Of course, some turnover is unavoidable, but high rates may indicate snags in the hiring process. Are you bringing the wrong people into your organization? The conventional interview may be to blame. According to research, traditional interviews “are miserable predictors of job success” with only .2 correlation. Therefore, companies are turning to behavioral interviews with open-ended questions, cognitive tests, and experiential interviews in which candidates perform a task or work sample similar to what would be expected on the job. Combining different interviewing techniques can produce even more reliable results.
Solution: Reconsider your interviewing process.
Is Your Hiring Based Primarily on Best Guesses and Gut Instinct?
When asked, most people feel they are pretty good at hiring. They can point out some fantastic talent they added to the organization, and, sure, maybe they had a few misses. What was their ratio of successes to failures? Well, that’s hard to say. They never kept track. This scenario is not uncommon as many companies neglect to measure the efficacy of their hiring procedures. Even tracking a few simple metrics, such as first-year attrition, quality of hire and candidate job satisfaction, can provide valuable insight into what works and what doesn’t.
Solution: Use data-driven recruiting metrics to improve hiring techniques.
Would Your Company Like to Hire Better?
FirstStaff can help your organization find talented, qualified people who are ready to work. Our four Arkansas branches offer fast decision making, quick reporting and an extensive knowledge of the local job market. Find out more about our staffing services today!