5 Signs You Should Invest in Your Hiring Process
Having a sound hiring process can have huge benefits to an organization – from increasing employee retention, to improving company culture, the right hiring process sets up the organization for success by making sure ONLY the right people hired into your company.
Often times, organizations are too busy to change hiring processes or assume that if they continue doing the same thing they’ve always done in the past, they’ll somehow get different results (or simply overwhelmed by the daunting task) is this true for you?
Here are 5 signs that you should invest time into improving your hiring process:
1. You don’t have a designated team to own and manage the recruiting process, and you can’t afford to make the wrong hire.
A bad hire can cost a company anywhere from 25% to 250% of their first year’s salary! (Source: Dice)
2. There is high turnover.
Bernadette Kenny reports on Forbes that anything over a 15% turnover rate is considered unhealthy. Short-term employee turnover is especially alarming and costly. What was your turnover rate last year?
3. Your new employee onboarding is either unclear, inconsistent, or doesn’t exist at all.
22% of staff turnover occurs in the first 45 days of employment (source: The Wynhurst Group) and one of the simplest ways to reduce and control turnover is through a solid onboarding program.
4. You’re not attracting the level of top talent you want.
How much time is being wasted weeding through not-good-fit applicants?
5. You’ve previously filled a critical position with the wrong hire at least once.
You need to find the right one but you’re not sure what to do differently.
If any of these 5 signs exist for you, it’s time invest in improving your hiring process!
Ultimately, an efficient hiring process sets the organization up for success so every investment to improving (or creating) this – is worth it!