Hiring is always somewhat of a crapshoot but there are several strategies companies can do to help ensure you hire talent that lasts. One thing is to think of hiring as a crucial part of the business. Remember that the cost of turnover is estimated to be 150% the rate of the salary you are hiring for. For example, hiring a worker at an annual salary of $50,000 will cost the company roughly $75,000 if they leave. Ouch.
The hiring game for a company is like sales, you want to come into it prepared. Do the research before the appointment, so you know the right questions to ask to get the most information. The current hiring landscape reflects a rising employee turnover rate. Therefore, it’s crucial to hire candidates that will grow with your company and stick around for the long haul. (Source) Below are the highlights from an article published by Julie Kim, if you would like to read the original article click here.
Forget the Resume
Resumes are what the person has done written in a compact form. The interviews are a chance for the potential employer to get to know the employee for who they really are not just what they have accomplished. You want the interview to be more casual and friendly so start it off by saying “tell me about yourself” instead of so your resume says.
Ask Deconstructed Questions
Structured interviews can lead to very common answers among all applicants for the position. If you want to get the person who best fits the role, then forget the script. If the applicant answers a question with an interesting answer, ask questions to further learn about what they were saying.
Guage Their Interest and Passion
Especially when it comes to entry-level candidates without much experience, it’s much easier to gauge their interest in the industry than in a specific position. If your industry is finance, ask about a candidate’s most recent stock they bought. If your industry is architecture, ask a candidate’s favorite monument. Candidates should feel passionate about the industry in which they’re applying for a job. Don’t forget to follow up with a simple, “why?” (Source)
Don’t Veto off the Bat
Focus on finding the candidate that will fit the position best, and don’t be afraid to let it be the person with less experience. It should be the person willing to learn and be easily taught to work the position the way the company needs them to.
Consider a Person’s Long-Term Potential
Remember that every hire is an investment–one that you hope lasts for many years; it’s incumbent on you to get them excited not just about tomorrow but about the next few years at the company.
Hiring candidates that stick around and become top contributors for years is crucial to maintaining any growing company. A company hoping to foster long-time staff tenures should put time into having genuine conversations during their interview process, including how they grow and develop when they come on board to your company. (Source)
Source: Kim, Julie. “How to Hire for Talent Who Will Stick Around.” How to Hire for Talent Who Will Stick Around, Fast Company, 9 Mar. 2022, https://www.fastcompany.com/90728481/how-to-hire-for-talent-who-will-stick-around.
Need assistance? Contact the experts at HRinDemand, your total people solution.
Melissa Marsh, SPHR, SHRM-SCP, is a human resources consultant and founder of HRinDemand, a human resources company in Reno, NV, offering expert guidance and easy-to-use tools to help small businesses with employment regulations, compliance, employee relations, and company growth