A Bad Hiring Decision and its Effect on Business

A Bad Hiring Decision and its Effect on Business

Bad decisions may make good stories, but they are definitely a great loss.

In today’s competitive business world, you need to meet deadlines. And, to deliver on time, you need to fill in the positions as quickly as possible. However, impulsive hiring can cost you serious bucks. Here’s why you should not make a bad hiring decision:

Bad Hiring Decision

Financial Loss

According to a 2013 survey by Career Builder, 27 percent of employees in America reported that hiring a wrong person for the job costs more than $50,000 to the business. If you made a bad hiring decision, you will have to assume the financial burden of the following things:

1. Decreased sale and profit
2. Workflow interruption
3. Dismissal costs
4. Cost of new recruitment
5. Training expenses

Non-Financial Loss

You should avoid a bad hiring decision not only because it affects the bottom line but also because of the following reasons:
1. Reduced employee morale
2. Increase in employee dissatisfaction
3. Reduced business productivity
4. Inability to meet deadlines
5. Increased dissatisfaction among customers
6. Loss of customers
7. Damage to business goodwill

Tips for avoiding a Bad Hiring Decision

Great employees ensure greater success. So, it is important to avoid any shortcuts while filling a position in your organization. If you want to hire the right person for the job, here’s how you can do it:

1. The Business Need

Understand the kind of skills that you are looking for in an employee. Remember that as your business grows, the demands of a specific job will change. It will lead to change in job description as well. So, consider the present conditions and create an appropriate job description before calling in candidates for the interview.

2. Look beyond Qualification

To determine whether a candidate is the right person for the job, you must conduct the interview. During the interview process, you must not just focus on his/her qualification but also try to ascertain several aspects of his/her personality such as communication and leadership skills. Ask behavioral interview questions that will help you determine whether the candidate is a right fit for your organization.

Remember that hiring the best employee requires the best of your efforts. If you think that you are unable to devote your time to the recruitment process or you consider that you not well-versed in conducting interviews, you must hire the experts to do it for you.

You can get in touch with a professional staffing company and explain your requirements to the company’s recruiters. They will understand your business needs and help you find the best employee at the first go.

If you want to hire the best IT professionals for your business, trust Optimal Infosystems. The NJ-based IT staffing firm can find you qualified candidates in no time because it has a large database of pre-screened IT professionals. Get in touch for a successful recruitment process.

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