4 Common Hiring Mistakes That are Costing Your Company a Fortune

Making a direct hire staffing decision can be a long and expensive process. Therefore it is important, to ensure that you avoid common hiring mistakes that can further lower your new hire ROI. After all, the cost of a bad hire can be significant. In fact, a CareerBuilder survey found that over 40 percent of surveyed organizations had made a bad hiring decision that cost them upwards of $25,000, with nearly 25 percent of companies estimating that a bad hire had cost them double that figure. Furthermore, the repercussions of a bad hire are not exclusively monetary in nature. Opting to hire the wrong employee can have a negative impact on relations with clients, the morale in the office and the overall reputation of the company.

“40% of organizations had made a bad hiring decision that cost them over $25,000.”

Therefore, before making your next hiring decision, it is imperative to make sure that you do not make any of the four common hiring mistakes listed below:

1. Not Committing Time to the Hiring Process

Hiring the right employee takes time, but in today’s fast-paced world of business, hiring managers will often rush to fill a direct hire position. With speed comes an increased risk of making the wrong call and settling for a candidate that may not be ideal. Business Insider argues that the selection process for hiring should take around six weeks, so that office executives are able to find that perfect candidate and human resources is able to complete all the necessary background checks.

2. An Ill-Prepared Interview

When hiring employees is important to understand who exactly you are hiring.  That’s why interviewing is so imperative; it’s best opportunity you will get to learn the most you can about a candidate. Prepare before an interview. Research the candidate online, review their resume, and decide on a list of appropriate questions. If you are a hiring manager and unsure of the exact details of the role you are hiring for, consult an expert in creative staffing beforehand. It is important that both the interviewer and interviewee know exactly what the job entails before a hiring decision is made.

Hiring mistakes.
One of the most common hiring mistakes is to not designate enough time to the search process.

3. Not Checking References

Neglecting to check references or checking just one reference is a common hiring mistake that can be costly in the long run. It is important to consult an array of references to get a more comprehensive understanding of the prospective candidate. To get the best insight from references, ask candidates to provide two past supervisor references, and one from a co-worker or family member. By securing different perspectives, you’ll have better insight into the candidate you’re hiring.

4. Focusing Too Much On Active Candidates

More often than not, the very best candidates may not be looking for a new job. Most hiring managers assume candidates are continuously searching for jobs, when really most candidates, 75 percent to be exact, are completely satisfied with their current position. Therefore, having a hiring policy that exclusively focuses on active candidates that come to you could lead to a bad hiring decision. If you’re looking for employees to hire, widen your candidate search and start reaching out to passive candidates.

To alleviate any stresses with passive candidates, enlist the services of a niche staffing agency that focuses exclusively on your industry. Recruiters maintain working relationships with some of the very best passive candidates in a multitude of fields and can help connect you with your dream future employee.

Contact Profiles Today

Hiring the right employee is no easy task. Making one bad hiring mistake could cost your business tens of thousands of dollars. By following avoiding these common hiring mistakes, you’ll be able to select candidates that will align with your corporate strategies and fit into your culture.

If you’re looking for employees hire and are having difficulties creating an effective hiring policy, contact Profiles and see how our marketing staffing agency can begin the selection process today.

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