Human resource is, in actuality, a department of significant investment. In an article for Forbes, David K. Williams warned that a single hiring mistake can cost a business $25-50,000. The process of recruiting, hiring, and training a new employee is an expensive one, so you want to spend that money on an employee that is truly worthy.
But how can you find and choose that special person to bring onboard? Here are seven considerations to take into account when hiring.
1. Qualifications: Does the applicant have the skills, experience, and education necessary to do the job well?
2. Potential: Does this person exhibit the creativity and determination necessary to master the most difficult tasks involved with the job? Is (s)he willing and able to grow into more responsible positions?
3. Compatibility: Will this candidate get along well with teammates, clients, and management, or do you anticipate a possible clash of personality or style?
4. Stability: Does the applicant view this position as long-term, or is it merely a stepping-stone to something better? Pay close attention to clues about his or her level of commitment, such as how long previous jobs have lasted.
5. Values: What are the candidate’s values, and how do they compare to yours? Would this person be honest, reliable, and a team player?
6. Philosophy: Will this person fit in well with your company’s culture? Do you share the same values, expectations, and attitudes toward work?
7. Compensation: Any person hired must agree to your offered compensation and be satisfied with it. Employees who feel underpaid tend to underperform.
Of course, you should start by getting the applicant’s responses to these seven considerations. Beyond the interview, though, you would do well to follow through with references. Since the references provided by an applicant tend to be biased, it’s smart to ask for contact information of their previous bosses, colleagues, and/or subordinates. These are typically more objective and should be able to give you a fuller and more accurate understanding of how well the candidate measures up to the seven criteria.
If you are faced with a decision of choosing between two or more great candidates, a Decision Grid or the Scoring Model can help you make the best choice. These decision-making tools are described in detail in the book Time to getLaunched: 7 Keys to Succeed with Your Startup, by Professor Dr. Rolf Meyer and Slavisa Tavic B.Sc.
Williams, David K. “Dealing With A Bad Hire? The Case To Teach And Adapt, Rather Than Fire.” Forbes.com. Forbes, 5 June 2012. Web. 7 Dec. 2015.