Regardless of the job position, a single bad hire can wreck your entire business and cause tremendous loss. A recent survey has revealed that more than 40% companies have agreed that they have lost thousands of dollars because they hired just one bad person. This is the average for a medium-sized company. Now, scale it down and imagine the impact of a bad hire on a small company. Small companies rely too much on their employees because they cannot afford to hire one employee per task. Each employee juggles quite a lot and as a result the risk is higher. A bad hire will impact you in a huge way, causing your company a lot of trouble.
Remember that it is not only about paying them and giving them benefits. It is also about low productivity, which in turn causes huge losses to the company. Ill-fitted hires do not well to their potential and that will hurt your business. Another thing is the fact that you will have to spend a lot of time finding the right pick and then hiring him, repeating a tedious process sooner than you wanted to. Lastly, a bad employee can hurt the morale of the entire workplace, reducing productivity of the other employees as well. This is how many companies are doomed.
To avoid hassle to this extent, we have some tips for you:
Make Use of References
A number of companies have made the mistake of not researching a candidate properly before the hiring process. Of course you will interview them but you sure know that most people inflate their skills and present them to you so that they bag the job. This is the reason why you should use references to your advantage. Ex-employers may not want to divulge a lot of information but they will not have a problem talking about the behavior and skills of the candidate in question.
Look for Employees!
Instead of waiting for the right employee to come strutting to you, you should make the move. Look at social media platforms and other places online where the candidates you are looking for may spend their time. There are interest groups, lists, and pages all over the Internet that can help you. Take advantage of technology!
You simply cannot determine whether a person will fit in well unless you check it practically. Thus, it is advisable to take a demo test or get them to work on a test project to know where they stand. Create an environment exactly like the kind they can expect once hired. This will let you know whether the candidate is going to be easy to work with. Then, you can take a call.
Hiring the wrong employee can cost you a lot. That is the reason why you should be careful. Research thoroughly and take a test to know where the candidate stands.
Since bad hiring can cost you more than money, it is important to focus on your hiring process. You should use references and talk to ex-employers to know about the candidate. Also, check social media and other groups for candidates will help you a lot.