The Cost of Getting Recruitment Wrong
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For any organisation, people are your biggest asset, but they can also be your biggest cost.
The Chartered Institute for Personnel and Development (CIPD) puts the cost of recruiting the wrong person at 2.5 times their annual salary. What is not included in this, is having to go through the recruitment process again as well as a drop in productivity, lack of commitment, low morale and rapid staff turnover, all of which can impact heavily on the bottom line.
Calculating these costs are not easy as there are other factors to be taken into account, such as lost investment and dissatisfied clients.
Once you bring an employee on board, it is not always that easy to get rid of them. In most cases, it is going to take time and can prove to be expensive.
How can you ensure that you mitigate your risk of hiring the wrong person:
Sometimes, there isn’t a clear understanding of what is required in a role. It is important you sit down and define exactly what skills, competencies and abilities you require, and by putting together a job description, it will give you a better understanding of what you are looking for.
However, once you have put the job description together, share it with other stakeholders and ask them to provide input as well.
Ensure you conduct a proper pre-screening of CVs against the requirements of the role. If need be, develop a short interview questionnaire that can be used for telephone screening.
Ensure you have a proper recruitment and interview process in place. Be aware of what you can and cannot ask. Before even appointing anyone, you do not want to find yourself in a situation where someone is suing your company for discrimination due to the fact that the wrong questions were asked in the interview.
Importantly, those people conducting the interviews, ensure they are trained to do interviews. The most common mistakes managers make is to rely on their gut feel.
Ensure that there is not only a proper fit according to the role, but also in terms of team and organisational fit.
If you do not have the skills in-house to assist you with finding the right person, outsource the process to experienced and qualified people who can help you mitigate the risk.
Investing in recruitment and recruitment processes, will not only save you time, but money as well.
At Constantia Consulting, we can assist to ensure that you or your managers are fully trained up to manage this process on your own, or alternatively we can manage the recruitment and interview process for you.
If you want to know more about the value that Constantia Consulting can bring to your business and help you save time and money, then call me on 0203 2879 278 to arrange a discussion.
Visit my website at www.constantiaconsulting.com to complete a free HR Audit Questionnaire and get a free detailed feedback report.
