It’s something all hiring managers dread – making a bad hire. Like a stone tossed into a lake, the effects of a bad hire can ripple outward with far-reaching influence.
A bad hire will not only cost a practice money, but also productivity and time, as well as affecting employee morale.
According to the U.S. Department of Labor, it can cost up to one-third of a person’s annual salary to replace him or her, while other studies put the price tag at up to five times the employee’s annual salary. The higher the position on the organizational chart, and the longer the person remains in it, the higher the cost of replacing the person. Most of the worker turnover at a company can be traced to a bad hire.
To see why the costs are so high, you can begin by looking at the hiring process itself. There is the cost practices incur while paying employees to conduct a job search, to sift through applications, and to conduct interviews. Then, once the person is hired, there is the cost for training and orientation. There are also the costs on the other end – outplacement services for the person who is leaving, insurance, and possible litigation costs if the employee is leaving on less than amicable terms.
Plus, there is the time and money it takes to go through another hiring process with new candidates, if the practice elects to do that. Then, the practice needs to go through the training and orientation process all over again. Moreover, when someone is terminated, it raises questions and concerns among other employees, and can hurt morale. And, there is the extra work other employees need to take on to cover for the person who was let go. There may be repercussions with patients and their care as well.
Why Practices Make Poor Hiring Decisions
Surveys of executives have revealed that two of the main reasons for bad hires are a mismatch between the skills required for the job and those of the candidate, and performance objectives that have not been clearly articulated. Often, people confuse the job description with the job criteria, which leads to the mismatch.
Another reason a new hire fails at the job is because he or she doesn’t fit in with the company culture.
How to Avoid a Bad Hire
To ensure you make the best choice possible among job candidates, you need to be certain about exactly what job skills you are looking for. And you need to come to the interview with questions that are designed to elicit information from the candidate about those skills.
To find out if the candidate is a good fit not just for the job, but with the practice as a whole, different people from throughout the practice should interact with him or her, and then compare notes.
The Advantages of Using Team1Medical Staffing
Over the years, Team1Medical Staffing has developed a reputation as the most reliable medical staffing agency in the Greater Houston area. We have become a standout firm because of our attention to detail and the flexibility we offer our clients, enabling them to control their own schedules, as well as the opportunities we offer candidates to further their careers. Contact us at email@example.com or call 713-590-2980 and find out why we have earned our reputation as one of the best.