The Ugly Truth About Hiring Your Next Employee!

Studies have shown, finding and hiring productive people has remained the number one issue in business for the past seven years.

Does your business have greater productivity and revenue potential? If so, what is holding you back? The National Federation of Independent Businesses (NFIB) recently realized that 61% of businesses are struggling to grow. That means six out of 10 businesses either had no or negative revenue growth last year.

The majority of these businesses said “their people” were holding them back. People who lack reliability, work-ethic, integrity, internal motivation, teamwork and the customer service skills to grow your business. The ugly truth is, three of four new employees will “disappoint” you in their first year on the job. They will either quit, be fired or linger on as a “workplace survivor” and drain your revenues.

The Department of Labor says that every “mis-hire” costs you a minimum of $11,713. When you factor in the personnel issues that stem from the wrong people on your team like conflict, apathy, theft, etc., you can double that figure. When you factor in the lost sales and lost customers that stem from errors and poor service, triple that figure. Anybody that has actually measured what a mis-hire has cost them, will say this figure is more accurate.

To hire the people you need to grow your business, it’s imperative to know the 5 Hiring Best Practices. And even more important is to use them.

Here are the People Values’ 5 Hiring Best Practices:

  1. “Actively” Recruit – Don’t depend solely on classified ads, recruiters and general web boards to provide you “passive” candidates.
  2. Thorough (& legal) Job Descriptions – Document the minimum requirements to get a job in your company.
  3. Benchmarks & “Job Success Patterns” – Document the minimum requirements to keep a job in your company.
  4. Lead Behavioral Based Interview Questions – 90% of interviewers ask the same pointless questions that tell you nothing about culture, team or job fit.
  5. Reliable & Validated Assessments – Adding a pre-employment assessment to the resume, interview and interviewer’s “gut feel” can improve your odds of hiring a TOP Performer from 26% to 75%.