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Speed to Hire Is Important - But Finding the Right Person is Essential!

21 November, 2019
Speed to Hire Is Important - But Finding the Right Person is Essential!

In today’s extremely competitive labor market, employers are more motivated than ever to hire as quickly as possible and many HR departments are increasing their focus on a metric called ‘speed to hire’.

Beating the competition to the punch is essential when it comes to staffing, but at the end of the day – the more important thing is to hire the best person for the job and the company.

There have been many studies on the costs associated with a bad hire. Someone who ends up leaving the company after just a few months on the job means wasted resources in recruiting, screening interviewing, hiring and training. Add in costs associated with mistakes or productivity losses caused by the bad hire, and it quickly becomes apparent why hiring the right person is essential.

Smart hiring has the obvious benefit of avoiding all those costs, but finding the right person also has many other benefits.

Better Return on Investment (ROI)

Every employee is an investment. Companies compensate their employees with money and benefits. They also must give employees the tools they need to do their job, such as a computer, internet access and office furniture. An investment in a good worker provides a much better return, or ROI, than a bad hire.

Higher Productivity

By their very nature, good staff members support a company's profits. In addition to doing good work themselves, they can have a positive impact on others around them. Skills and experience are necessary in any job, but the ability to effectively collaborate with others is a hallmark of a good hire.

Shorter Adjustment Period

Because they are well-suited to their job and the company, good hires take less time to adapt and adjust. This results in a lower drop-off in productivity as the new hire gets up to speed quicker and requires less assistance from more experienced staff members.

Supports High Morale

Everybody you employ fits into your company like a piece in a puzzle. A good hire doesn't just add crucial new abilities and experience, but can also bring friendliness, motivation, and creativity to your business. Conversely, a bad hire can hurt morale, spoiling a carefully constructed work culture with a poor attitude or causing other staff members to pick up their slack.

Better Security

Nowadays, most workers need access to company accounts and sensitive information to do their job. Generally, providing access isn't a big deal because employees stick with a company for years and aren't particularly motivated to abuse it. But when someone only lasts with a company for a few months, it causes a massive security headache for the company. When IT team can just shut down access once someone has officially left the company, it is much harder to take back any sensitive knowledge or information.

Making the right hire helps to minimize the odds that the wrong person get access to your systems or sensitive data.

Let Us Help You Make the Right Hires

 

At Quanta, we work closely with our clients to help them hire the right person as often as possible. Please contact us today to find out how we can help your organization.

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