When you hire in a hurry, you experience unwanted turn over. If you are lucky the turn over happens fast, yet in most cases it is months before the problem surfaces and the impact of the mis-hire and the wrong person doing the job wrong has already disseminated throughout the team, if not the department. This can be costly, through team morale yet also very costly financially, and is something that can be prevented before it even occurs if you have a solid hiring system in place that is followed for each new hire.
At the start of the 21st century, many companies decimated their training budgets in an effort to operate lean and mean. The problem is that, over the last 15 years, most new managers have not been given adequate training, mentoring or coaching on how to manage. Most of today’s business managers say they feel ill-equipped to do their job effectively, which leaves them with employees and teams that lack employee engagement, under-perform and eventually quit or get fired, and employee retention rates low. Running a company effectively now and in the future is directly related to your ability to choose the right people for the right roles, the right people to manage them, provide an environment for them to optimize their performance and give them purpose, fulfillment and meaning in their work.
Managers need to really gain clarity on why they are in their role and what is expected in terms of people utilization and how their performance and their teams’ performance is measured. Find out what bad hires could be costing your company by using our ‘Cost of a Mis-Hire Calculator‘.