#43 – DO YOU KNOW THE COST OF A BAD HIRE? – ELIZABETH LIONS

Elizabeth Lions PixYou know the one. The one that comes in late or calls in on Monday mornings right before a major project is launched. Or the employee that is constantly negative, bringing down the team because they always have to be right. Or the employee that you just cannot coach,  no matter how hard you try to test your leadership skills.

According to a Forbes article by David K. Williams, the cost of a bad hire can run you anywhere between $25,00-$50,000. These hidden costs quickly add up when you look at a recruiter’s salary, job postings, interviewing, training and related equipment like phones, desks and computers.

Ironically, the small companies and entrepreneurs I work with spend little time outing the hiring process. This goal orientation of ‘get r done’ can be the recipe for disaster.

Here are the four things you need to think about in order to attract and hire the best employees

CONSULTATION
Answer the following questions:  What do I want?  What skills do applicants need for this position? How much will it cost? Can I afford to write the check to hire someone like that? Combining skill sets like those needed for a receptionist and a bookkeeper, or an engineer and a marketing person will lead to frustration quickly. That person rarely exists. Be clear in what you need to hire from a skill set perspective and go to step two . . .

ADS THAT ATTRACT
Writing a catchy ad is no small feat. Few help-wanted ads read with exciting headers. Most are dry and focused about the company and the job. The magic happens when the ad is written from the what’s-in-it-for-me approach. Think about that. Why would an employee want to work for you over, let’s say, Apple? Think about your culture, growth advancement, pay, mentoring, or where ever you shine. Write the ad from the perspective of the applicant. What will rock their world?  If you want to compete with Apple, throw away your stodgy language. And while you are at it, read one of Apple’s ads. You’ll quickly see why anyone would not only be willing but happy to take out their trash!

INTERVIEW QUESTIONS
The most common mistake managers make is shooting from the hip when it comes to interview questions. Without having scripted questions, you will find it difficult to decide which candidate was the top and which was the bottom pick at the end of the recruitment. Have at least five to seven good interview questions that uncover skills, attitudes and behaviors. Take notes during the interview because you’ll need them for the decision-making process.

THE SELL
During the interview, make sure you tell the employee what is in it for them. Make it clear, so that when they are interviewing elsewhere, your job will stand out as the best. Also, be somewhat collaborative. Command and control will not make for a good interview, but rather a professional, focused conversation will. Remember that your perfect candidate will choose you as much as you choose them.

REFERENCE CHECKS
One can gain valuable information on a reference check if they ask the right questions. In my career, I’ve had reference calls go as short as ten minutes and as long as 40. Yes, people will talk. If you ask the right questions, no law will stop them from sharing valuable information about what a person is actually like.  Just like the outline of interview questions, the process around thoughtful reference check question are a must have in order to solidify your hiring decision.

The task of hiring is like changing your oil in the driveway. No one likes to do it, but if you are doing it yourself, what is your option? The good news is if you do it right, you’ll save time and money. As an alternative, you can certainly pay someone else to do your hiring.

Bio

Elizabeth Lions is the author of two business books, “Recession Proof Yourself” and ” I Quit! Working For You Isn’t Working For Me” She is well known for her radio show on Think Zink, “Leadership Lessons From the Lioness”  Elizabeth’s clients are small businesses, which she consults, on attracting, hiring and retaining top talent. She also has a private practice as a Career Coach. For more about her philosophies, please visit www.elizabethlions.com. To contact Elizabeth:Elizabeth.Lions@gmail.com or call 806-283-8811.

Elizabeth Lions
Author, “Recession Proof Yourself!”
and
”I Quit! Working For You Isn’t Working For Me”
www.elizabethlions.com
806 283 8811

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