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Finding the Right Employees

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See how these companies position their new hires to succeed

A lot of businesses are looking for quality employees. The economy is not what it once was, but the number of job vacancies has risen by nearly 26% from June 2009 to June 2010 according to reports from the Bureau of Labor Statistics. How many leaders do you think will assume positions in these companies? Not as many as you estimate.

Sourcing the right employee to hire is always difficult and expensive for businesses. Resources have to be allocated for advertising, resume collation, and interviews. It is estimated that it costs anywhere between 8 to 20% of the position’s annual salary for the first year to recruit for that position.

With the economy gradually moving along, it remains a huge task to recruit the right employees. With millions of job seekers and companies faced with having to filter through numerous applications, most businesses tend to experience a high failure rate when hiring new staff.

According to a PricewaterhouseCoopers survey in 2008, one in four new hires will either be terminated or leave voluntarily in the first year.

However, leaders of the top companies enjoy more success. It is estimated that 92% of employees in these companies believe that management hires people who fit in nicely. How do they achieve this level of success? These companies prioritize a candidate’s fit into the organization’s culture as much as every other thing such as skills and expertise.

The best workplaces invest a lot more in the interview process exploring areas such as personality and culture fit. This is at the core of the “hire for attitude, train for skill” philosophy.

Applicants are given the opportunity to get an inside perspective into the company during the interview process by exposing them to a cross-section of employees. Some other companies come out boldly and tell you exactly what the culture is and what to expect if you wish to be a part of the company.

As prospective employees get all the information they need to about the company culture, these companies also learn as much as possible about the candidate’s values. Some companies invest in external professionals who help them draft web-based personality assessments that check for all the traits they want to measure in the candidate.

Some other companies invest in sensitization and internal training programs to ensure the most suitable candidate is selected in the course of a well-run interview process. The recruitment and selection process offers a golden opportunity to get the best in a new hire. The best companies invest in culture as much as they do in skills, expertise, and training.

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