Whether Hiring Managers acknowledge it or not, hiring mistakes happen more often than they would like. Every company and role is different, though as a rule of thumb we estimate around 25-30% of new employees fail to stay in their new job for 12 months. Which means the company invested substantial resources to recruit, employ and train each person, only for them to leave before they have developed the foundation to become long term productive employees.
So why does this happen, what are the implications and what can we do about it?
- The reason this routinely happens, is that the standard recruitment model is flawed and no longer fit for purpose. One of many reasons is that hiring managers typically hire new employees on the back of their experience, their skills and their background, but end up firing or losing them because once the employee is in position, it becomes clear their attitudes, beliefs and behaviors don’t fit in with the company culture, meaning they are unhappy and demotivated.
- The implications of bad hires are substantial and costly, and yet because the traditional recruitment model is both widely used and flawed, most businesses are held back by costly hiring mistakes. It’s a common guilty secret which no one wants to talk about! If you’re open and brave enough to understand the true cost of bad hires to your business, please CLICK HERE for our Bad Hire Calculator
- When I ask companies what they are doing to improve employee retention, the majority talk about their commendable efforts to look after their employees, for instance private healthcare, paid holidays, strong packages and commission schemes, equity, office gym’s and company social nights etc. What they don’t initially recognize is the need to take a good hard look at their recruitment model, to ensure that the people they take on as employees in the first place, are great fits for the company culture and thus far more likely to be happy and productive in their work.
So going back to the question of “How many recruiters does it take to change a lightbulb?” The answer of course is just one. However, if you’re still using a traditional hiring model, the chances are you’ll make hiring mistakes and will therefore soon need to incur more costs by asking the recruiter to find a replacement/replace the bulb.
So, if looking at ways to retain existing employees is not enough, what else can we do to reduce the burden of inevitable bad hiring decisions? Obviously I only ask that question, as I know I have the solution! The first thing you have to do is recognize that your current recruitment model is a big part of the problem and then be open minded enough to investigate a new approach fit for the 21st Century.
Our recruitment platform is “Snowdon Vision” which features a range of cutting-edge candidate assessment steps built into an online candidate delivery platform. “Snowdon Vison” is proven to REDUCE your commercial downtime, IMPROVE your retention rates and REDUCE the risk of costly hiring mistakes.
If you’re ready to investigate a cutting-edge hiring strategy and model, please introduce yourself via email@example.com to start a conversation.