- Most organizations, particularly managers, are not good at making hiring decisions.
- Many managers think they are expert decision makers, but in reality a typical manager's hiring success rate is 50%.
- A bad hire can cost the organization up to 15 times an employee's annual salary and can also lead to damaged employee morale, discontinuity in production, and a poor company reputation.
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Our Advice
Critical Insight
- The right people, inputs, and process drive good hiring decisions. The common mistakes that lead to poor hiring decisions include not involving more people than just the hiring manager in the decision, not effectively using candidate data, and not following systematic processes to arrive at the final decision.
- Even within the constraints of the selection process already in place, hiring managers can make better choices at the decision-making phase of the process. Involve others in the decision and focus on making objective evaluations of candidate fit with the job before making more subjective evaluations about the candidate.
- Hiring decisions that involve the hiring manager in addition to others who can provide input to the decision such as HR, peers, or direct reports is the factor that has the biggest impact on the success of hiring decisions.
Impact and Result
- Reduce the grief and cost associated with bad hires. Involve the right people, leverage all available inputs, and use a systematic and highly objective process to acquire better quality hires.
- By taking steps to make better hiring decisions, managers will reduce the time and money needed to recruit, interview, onboard, and train new hires to replace the bad ones.
- Know what good hires look like so you can track hiring hits and misses for continued success and refinement of the process.