Recruitment For Small Business - Why You Shouldn't DIY
By Fernie Black
Peter Drucker the noted management
consultant said, "Chances are good that up to 66% of your companies
hiring decisions will prove to be mistakes in the first 12 months."
That's a pretty damning statistic when you consider the potential cost of a mis-hire can be as much as three-times the persons salary. This means for a failed hire of a typical middle manager with a salary of $50,000 - you could face costs as high as $150,000.
And let's not overlook the potential for law suits, and the intangible costs associated with depressed morale and the very real loss in productivity. Of course you may even need to factor in packages and other layoff costs too.
Studies have shown that "DIY Recruiting" is dangerous to your companies health, and relying on gut instincts, first impressions, and poor hiring processes will undoubtedly lead to the dismal future painted by Peter Drucker in the opening paragraph of this article.
But hiring doesn't have to be this way. True, hiring is part art, but mostly it's a well researched science with the exceptional firms providing top quality recruitment services, capable of successfully sourcing and selecting great people for your growing company.
Excellent recruitment begins with understanding the requirements - and we're not just referring to the required skills of the applicant (although this is important) we are referring to a much richer and more in-depth analysis that includes the job, the environment, the people and the culture.
A true Tier-1 recruitment firm seeks to understand the behaviour patterns, competencies, interests and abilities that would define a top performer within the company. Along with traditional methods of resume selection, phone screening, and in-person interviews, Tier-1 firms include personality profiling, and applicant assessments along with supporting background and reference checks.
And unlike person-to-person interviews, which always have the chance for misinterpretation, scientifically developed applicant assessment reduces the chances of an unsuitable applicant to the lowest levels. Contrary to popular myth, it's not possible to "fake" valid and reliable assessments. And candidates who do attempt to fake it are only fooling themselves!
Successful recruitment is not magic, it is however something you shouldn't DIY. Top Tier recruitment companies are specially trained to implement only the industry's best practices combining a structured hiring process, a scientifically proven applicant assessment profile, and a detailed company requirements analysis.
In conclusion, DIY recruiting is dangerous, expensive, depressing, and legally risky. Heed Peter Drucker's advice: hire a professional recruiter and avoid a 66% failure rate...