Effective Strategies to Avoid a Bad Hire
In today’s ever-evolving Tech world, recruiting can often seem like a daunting task for many companies. However, businesses have much more to lose when they end up hiring the wrong candidate. In fact, CNET reports that companies end up paying up to $15,000 when replacing an employee with a specialized skill or a senior position. Add in the obstacles that come with the current Tech talent gap, and you’ll understand why many businesses like yours are seeking effective strategies to avoid a bad hire.
Hiring the wrong candidate for your niche Tech roles will not only be a financial burden for your business but will also negatively impact your overall productivity, company brand, and work culture. It’s crucial that your company craft effective methods to onboard the right candidates that can proactively assist in adding to the success of the business by driving revenue and implementing ROI-yielding initiatives. Though, it’s essential to remain mindful of the negative impact and high cost attached to a bad hire, while creating strategies to avoid this common business mistake.
4 Strategies to Avoid a Bad Hire
With emerging technologies evolving on a daily basis, most Tech businesses are too busy uncovering methods to integrate these innovations and don’t have the time, resources or employees to dedicate to discovering effective strategies to avoid a bad hire. Here are a few that can help your company locate the right Tech talent the first time around and remain competitive in today’s fast-paced marketplace:
- Get Specific. Make sure you’re stating specifics as early as the job description stage. It’s important to be direct and not mislead candidates with a vague job listing, which can limit the number of applications you receive and increase the number of potential bad hires you invite to interview. Remember to be exact when listing daily responsibilities for Tech roles; this will help deter those who don’t have the necessary skills for day-to-day tasks, and will attract those who feel they can excel and grow in the role.
- Avoid Hiring Bias. Learning to avoid hiring biases is crucial to the overall success of your business, as these biases can prevent diversity, decrease productivity, and create a stall in revenue generation. Integrating standardized interviews will put everyone on the same playing field, while naturally allowing their experiences and talents to unfold. This method will allow your HMs to focus on the right factors during the hiring process and avoid subconscious hiring biases they may not even be aware of.
- Utilize Your Network. Another helpful strategy to avoid a bad hire is tapping into your professional network. Candidates referred to a position by someone in their network are 46% more likely to accept an offer, according to a recent LinkedIn report. Your business’s network, consisting of your internal employee’s contacts, can help you find both active and passive professionals who are eager to jump-start their careers rather than onboarding someone who looks good on paper but decreases your company’s productivity. Integrating an employee referral incentive program is a great way to get your current employees to search their own networks for qualified candidates. Employees will only refer the candidates they feel will be an asset to your business, and those they think would make a smart addition to the team. Incentivizing them through a referral program will make them more likely to do so.
- Partner With a Staffing Agency. These are a few methods that can ensure your business avoids a bad hire. However, many Tech companies have urgent hiring needs and don’t have the time to implement these strategies, which is why many opt to partner with staffing agencies, like Mondo, to find high-end talent fast. With an average placement rate of 3 to 5 days for contract roles and 7 to 10 days for full-time roles, Mondo provides a fast turnaround for your high-end, niche talent needs. Partnering with a staffing agency allows your company to focus on providing the best solutions and services to your consumer base, working efficiently without needing to interrupt productivity or production.
Avoiding a bad hire is possible when you integrate these strategies into your hiring process. If your Tech business is looking to discover candidates who will become invaluable assets, while also avoiding the cost and headache of a bad hire, contact Mondo today. With access to our exclusive network of talented Tech professionals, our dedicated team of Technical Recruiters can ensure you find the right candidate for your niche Tech needs.