Regardless of whether your business is large or small, it is just as susceptible to the devastating impacts of a bad hire! Although they initially impressed you in the interview, under performing employees pose a serious threat to your business.
Your new employee misses deadlines, falls out with colleagues, disregards the organisations mission and values, and does the absolute minimum in the office. Think back to when you met them in the interview, were there any warning signs?
Its crucial to recruit the best!
Your business loses more than time, money and effort by recruiting, hiring and training people who perhaps shouldn’t have been brought on in the first place. You must also deal with the havoc that the “wrong” employee can create: the business you may lose when that individual interacts with customers, the cost you incur when you have to repeat procedures that were handled ineptly and the pressures on other employees who must pick up the slack.
The wisest hiring advice put in the time and effort on the front end to make sure you have the best available pool of applicants for every job opening. And determine whether you have good procedures in place for evaluating candidates.
Loss of productivity
A lot of time is wasted with an employee who cannot to their job effectively. Your organisation may be investing the same resources into the new hire, as they did with the previous employee in the same role, but seeing significantly less output in return. Over a period of time, this can have a real impact on results and the overall performance of the team.
When faced with a struggling colleague, other employees may start assuming other duties which aren’t really in their job description. This not only impacts their own performance and productivity at work, but their ability to keep appointments, hit targets and maintain standards.
Lower staff morale
If a bad hire is working at below capacity – due to a lack of skills or motivation – this can quickly have a knock-on effect to the rest of the workforce. One of the first things to take a hit may be staff morale. If employees are asked to pick up extra tasks for a struggling colleague, yet still receive the same salary, it can cause tension and potentially conflict.
A bad hire who has a negative attitude towards work can have a knock-on effect on staff morale. If they are unable to fit seamlessly into existing teams and get on with their colleagues, it can ruin the atmosphere in the office. This potentially impacts on how much employees enjoy doing their jobs, and the likelihood they will stay with the organisation for the long term.
It will cost you to find a replacement
It costs money to hire employees and then replace them. Organisations need to create job descriptions, advertise roles, read through CVs and application forms and carry out interviews. All the while, they may be operating short-staffed due to a lack of capacity in the office. Even after the new employee joins a company, there is onboarding expenditure to consider, plus the fact the recruit may not be as productive as the experienced person they replaced.
There’s no doubt that poor recruitment decisions of a bad hire can have long-term impacts for organisations – and fixing an underperforming employee can take some time to set right. To overcome a hiring mistake, it may be necessary to reallocate people and resources, invest in further training, or in the most serious instances, let the employee go.
If you are a client worried about the time and financial investment of recruiting, then speak to us about how we’ve helped our clients recruit in a timely and cost-effective manner whilst limiting the risk associated with that hire leaving. We work with Financial Planners and Back Office support staff to find their ideal jobs, we also work closely with firms to enhance their recruitment strategies and partner to drive outstanding candidates to your business. Feel free to contact us to find out more on 01179 450450