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April 24, 2008
Ever wonder what one bad hire can cost your company?
As a rule of thumb, it will run you about one-third of the new hire's annual salary to replace that person, labor experts say. For an employee making $30,000, we're talking about $10,000.
That's why it pays to hire right the first time.
"When you're hiring, you ... need a blueprint," says Marni Hockenberg, a principal with the Hiring Experts, a Minneapolis executive search company. It will guide you through the process, says Ms. Hockenberg, who suggests starting by coming up with a clear definition of the firm's working culture.
"If they can't articulate what their culture is, then they're not going to be able to find the person that will fit in with their culture," she says.
Next, develop hiring criteria that include assessing the skills a qualified applicant needs to come in with, as well as educational background, salary and personality traits relevant to the job.
"You need to create a standard that you'll measure all the applicants against," says Diane Pfadenhauer, president of Employment Practices Advisors, a human resources consulting business in Northport, N.Y. "The standard will help prevent you from falling in love with someone who is not qualified."
Come up with an accurate job description. And Robert Micera, director of human resources at a New York accounting firm, suggests letting potential hires speak to people already on the job or letting them shadow other employees.
Hiring is a two-way street. "Before you start an interview, know why someone should [want to] work there," says Barbara Gebhardt, of Opus Staffing in Melville, N.Y.
Before you set up an in-person interview, try to screen candidates by phone to make sure they have the right skills. Then develop questions for the actual interview based on your hiring criteria.
"I make the interview very conversational" as a way to get people to open up, Ms. Hockenberg says.
"We use behavioral-style questions," she adds. For instance, ask how they handled a difficult situation or what they consider their greatest work accomplishment and how they achieved it.
And ask for examples, Ms. Pfadenhauer says. "Instead of saying, 'Do you know how to use Microsoft Word?' ask how they used it." She also suggests watching for gaps in employment and inconsistencies in résumés.
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