· 66% of employers said a bad hire lowered the performance of their company
· 18% of companies said a bad hire negatively affected a client relationship
· Cost of a bad hire can be 30% of an annual salary and many times much more
Recently we wrote an article called Staying in Your Lane, all about how managing is a key dynamic of a great company or team and one of the major pit falls is poor hiring. From the stats above you can see that more than half of the companies that exist hire poorly so where do you fall into the statistics?
Unfortunately many companies are still suffering from poor hiring practices because they are using outdated hiring methods. You know the process where the person fills out an application, provides a resume and then comes in for a round of interviews and a lunch or dinner? Yeah that process. Honestly, its outdated and needs to be updated and we have some out of the box methods that you should consider.
Our “out of the box” recommendations have helped our clients get better results from hiring practices and close more deals when they pitch their services to potential customers.
Instead of just focusing on a resume or a company brochure try these out of the box approaches:
1) Ask direct questions on the application: i.e. “Why do you think your are the best fit for this job?”
2) Have the candidate write an article on how to solve a problem that the company is having then send it to some of your key employees to rate how good the response was.
3) Request a video of them explaining how they would solve a real world business problem (verbal communication is critical to any level of business success).
When it comes to hiring one of things that matter most is “can the person(s) solve a problem that you have?”, so be creative and effective to ensure you’re choosing the right person for your team and business.
For more business tips and ideas check out the 60secondmoney blogs, 60secondmoney podcast, follow us on Instagram @60secondmoney and visit the TLTurner Group Facebook page.