5 most costly hiring mistakes

  • July 27, 2019
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Not clearly identifying exactly who you are looking to hire

Without doubt, the most common and costly hiring mistake that companies make is not taking the time to think through and jot down on paper who it is they are looking to hire.

Getting swayed by star performers

Job interviews are stressful for all parties. Both candidates and employers have a short time to make an assessment that will inform a decision with long-lasting consequences. Being impressed by a great interview performance is human but it is vital to not be dazzled by the confident candidate and overlook someone that may struggle with interviews but who may ultimately be a better fit. You have to hire the best person for the job – not the candidate best at job interviews.

Hiring generalists instead of specialists

It is always tempting to hire candidates for their versatility rather than a specific skill set. When generalists are given preference over specialists, they are groomed to take over managerial positions in the future. However, what most entrepreneurs fail to understand is that specialists come with a distinguished skill set and they bring something worthwhile to the table. Also, specialists have a unique and enriching perspective on things which can benefit the company in exciting and unforeseen ways. Recruiters should concentrate on which applicant can bring most to a role, and not who will receive hypothetical promotions in the future.

Not Knowing Market Compensation

Recruiting will be a frustrating exercise if you are wildly out of the ballpark on pay. Ask other business owners what they pay, check out salary surveys, advertise positions on job boards or talk to the recruiters.

Not consulting the team

Whether you run an entire company, department or just a team, the people who report to you have a ground-level view of the skills, knowledge, and temperament needed to succeed in the role on offer. Just ensure you communicate clearly how much influence team members will have on hiring decisions and how and when they will be consulted. Having team members meet shortlisted candidates offers both advantages and disadvantages depending on how you manage expectations.
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