Hiring is one of the most important decisions a manager makes, but three in four employers say they have experienced hiring the wrong person for a position. The worst consequence of a bad hire is not just that the person doesn’t fit in the company or fails to complete their tasks, though. A bad hire costs a company at least 30% of their first-year expected earnings, according to the U.S. Department of Labor.
As a branch manager for Cardinal Financial, Matthew Ziegert makes sure that the people who join his team are always the right fit for their positions. He developed a strategy that helps him reduce the likelihood of hiring the wrong employees.
Ziegert believes that the primary reason why companies make bad hiring decisions is that they aim to hire someone quickly rather than well. Filling a staffing gap fast is important, but what matters more is taking enough time to find the right fit. Otherwise, a company is very likely to suffer all the consequences of a bad hire.
“Emergency hiring is necessary in some cases, but the faster you move through the interview process, the more likely you are to make a decision that’s good for now instead of the long run,” Ziegert says.
In addition, he also points out that numerous managers focus on the wrong things, such as paying too much attention to the previous work experience.
“When searching for a person to join your team, you shouldn’t judge them based on their previous work experience. After all, experience is something you can teach your employees, but what you can’t teach them is to be passionate, positive, hard-working, and willing to grow. Those are the primary qualities you should look for in your future employees,” Ziegert says.
Ziegert also warns managers to beware of having a one-track mind.
“When you need to fill a position in your company, you usually come up with a picture of your ideal candidate. In general, it is good to list certain skills and personality traits that you want to see in a hire, but it is quite unlikely that you’ll find a person who has all of them. Discarding the candidates who don’t fit the profile perfectly is a surefire way to miss out on some potentially great employees,” Ziegert says.
Making a bad hiring decision is one of the most expensive mistakes a company can make. Luckily, it is possible to avoid this, and Matthew Ziegert has found the perfect strategy that helps him find the ideal candidate for his team every time.
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