Harvard Business Review recently quoted “At most companies, people spend 2 percent of their time recruiting and 75 percent managing their recruiting mistakes” Harvard Business School article.
It’s certainly an easy trap to fall into…
Here are some excuses from those who have fallen into the Hire Fast, Fire Slow trap.
“But I needed to hire someone right away”?“But they came with great referrals/industry knowledge/product expertise”?“But I didn’t realise the cost of a bad hire before it was too late”?“But they interviewed so well, and my gut told me they would work out fine”?“But I thought I’d hired a Superman. I didn’t know he was a David Brent”
MYTHS VS FACTS
MYTH - We hire when we need someone.
FACT - An interview with two needy people, one who needs to fill a vacancy, and another who needs a job, results in a bad hire.
MYTH - My gut will tell me. I know a good sales person when I see one.
FACT - All sales people, good and bad, have great CVs and interview well.
MYTH - I need to be good at identifying people who can sell
FACT – There is a huge difference between those who can sell themselves once in an interview and those that WILL. Charm and being personable are not indicators of being able to behave consistently on a daily, weekly monthly basis as a sales machine.
MYTH - We have a long sales cycle, so it will take a long time for us to determine if they are working out.
FACT - With an appropriate on-boarding process, hiring mistakes can be identified in 1-3 months, no matter how long the sales cycle.
Just as top sales people recognise prospecting is key to sales success, top performing companies, recognise that searching for talent and creating the appropriate systems and processes, is key to business success.
Ask your local business advisor for help with building your own “Hire Slow, Fire Fast” process before you spend 75% of your time in 2015 managing your mistakes.