4 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 $25,000 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 initiatives. Though, it’s essential to remain mindful of the negative impact and high cost that comes with a bad hire, while creating strategies to avoid this common business mistake.
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 posting 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 them 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 y
- our 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 nearly 50% 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 Navigant Global, to find high-end talent fast. With an average placement time of 3 to 5 days for contract roles and 7 to 14 days for full-time roles, Navigant provides a fast turnaround for your high-end, niche talent needs. Partnering with a staf fing 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 loo
king to discover candidates who will become invaluable assets, while also avoiding the cost and headache of a bad hire, contact Navigant Global. Our dedicated team of Technical Recruiters can ensure you find the right candidate for your niche Tech needs!
Staffing firms like Navigant Global and their experienced recruiters can play a critical role in helping companies find talent. There is nothing inherently superior to recruiters who work at external firms when compared to corporate recruiters, other than they tend to work fewer assignments and their compensation is based on their results, not their level of activity. This is a huge advantage when it comes to representing stronger candidates.
1. Since firms cover both the active and passive talent market, they can help raise the overall quality level of every new hire.
The only reason you should pay a fee of 20% or more for a candidate is if the person is clearly superior to the people your company is finding on its own. To get a sense of this, have the firm present a few of their best candidates, ask how they found them, and then compare them to those you’re now interviewing for the same roles.
2. Given fewer assignments, they have the time to hone their searc
h skills. In this case you’ll see and hire stronger people.
You need to have exceptional recruiting skills when dealing with passive candidates. To be successful staffing firm recruiters must excel here. Even if corporate recruiters have similar ability, due to their workload, they just don’t have the time to invest in passive candidate recruiting.
3. The best people want to work with them.
Top passive candidates, especially those with three or more years of experience, seek out the best third-party recruiters to keep them aware of opportunities at different companies. This is a huge advantage over corporate recruiters who only represent one company.
4. They have deep networks to find talent fast.
Part of being a strong recruiter is the opportunity to develop deep networks of passive candidates. This gives them a sourcing and speed advantage and allows them to find top people quickly.
5. They understand real job needs, so you’ll hire people who can hit the ground running.
Part of being a strong third-party recruiter, especially those who are industry specialists, is understanding the real job needs, as well as the hiring manager needs. While corporate recruiters could certainly do this, they rarely get the chance. As a result, too many corporate recruiters over-rely on skills, experience and compensation to filter candidates, eliminating high potential and diverse candidates from consideration.
6. They have more time to source passive candidates.
Convincing a person who’s not looking to consider an opportunity takes more time than recruiting someone who is anxious to leave. Most corporate recruiters spend the bulk of their time sourcing the latter types of active candidates. The best external recruiters should be spending 80-90% of their time networking and recruiting passive candidates.
7. They have credibility with hiring managers.
The best third-party recruiters need to work more closely and more often with the same hiring managers. This develops a trust factor that is hard to replicate with a corporate recruiter who needs to work with many different hiring managers. Surprisingly, many talent leaders prevent their external firms from working directly with hiring managers, losing the chance to leverage this essential partnership.
8. The best staffing firms offer longer guarantee periods.
If an external recruiter isn’t willing to offer a six month or one year guarantee, I’d question their ability to deliver stronger candidates. However, if they truly know what they’re doing and are allowed to do it, this type of guarantee should not be a problem for either a contingency or retained search firm.
9. For an external recruiter, the focus is on placements not activity. As a result, you won’t need to see as many candidates to get a top person hired.
When a person’s compensation is based on their performance, some recruiters throw as many candidates as they can into the hopper, hoping one sticks. These types of recruiters should be avoided. The best external recruiters work with fewer high-quality candidates and by managing the process from beginning to end, don’t need to present more than three to four candidates in order for one to get hired.
10. Since external recruiters are more consultative than transactional, their candidates take the job for the right reasons.
The best external recruiters are focused on having passive candidates understand the long-term career opportunities that come with a new job offer. While this takes more time for the recruiter, it ensures that the hire will be more successful in the long run because the offer is accepted based on actual job needs and the upside growth opportunity, not just the size of the compensation package.
Using a high-quality external recruiting firm, such as Navigant Global, that meets the above criteria should be part of every company’s talent acquisition program!
Be Compassionate and Understanding
Most families are now quarantined in their homes together, so employees are now facing more distractions than there might normally be.
On top of that, your team may be feeling anxious about their health and safety, so it’s important for employers to be mindful of how those fears may impact productivity in the coming weeks and months.
Keep people updated
The key to success as a fully remote team is consistent, transparent communication. This is especially important as the coronavirus situation unfolds and changes. You’ll want to ensure that you have multiple ways to reach employees, including chat software and email, and err on the side of over communication.
Prepare presentations to keep them engaged and motivated and provide them with all possible updates through communication channels.
Get everyone on video
With video conferencing tools like Zoom and Google Hangouts, it’s easy to keep your regular meeting schedule. The trick, however, is encouraging everyone to turn on their cameras so you can get that face-to-face focus and much-needed social interaction.
Make sure you schedule regular meetings with the teams, have everyone connected via video conference so that everyone’s prepped and out of their pajamas.
And don’t worry too much about any “background noise” from the family — it actually might be a good thing.