A Low Performing Employee Can Really Cost You
An employee who can’t keep up with work demands takes a heavier toll on a business than some may think, new research from staffing firm Robert Half suggests.
Robert Half recently asked CFOs to estimate how much time is spent coaching underperforming employees. The answer: 26 percent of working hours, on average — that’s over 10 hours out of a 40-hour workweek. Finance executives also acknowledged that hiring mistakes negatively affect team morale.
A bad hire is tremendously expensive for a company,” said Paul McDonald, senior executive director for Robert Half. “The time and money managers spend on recruitment and training is lost, and they also have to fix underperformers’ mistakes and deal with their effects on staff morale and productivity.”
Here are four hiring best practices from Robert Half:
Use a multipronged approach. Most employers post open positions on job boards and just wait to be flooded with applications. Maximize your chances of hiring a top performer by using multiple strategies:
- Ask for employee referrals.
- Tap your network.
- Work with a recruiter.
Hire for fit. New hires should have the technical chops to do the job well, but don’t forget to assess how various candidates may fit within your team and corporate culture.
Offer above-average compensation. Job seekers with stellar skills know what they’re worth, so pay is not the place to skimp. Consult resources like the 2018 Robert Half Salary Guides for insights on starting salaries, hiring trends, benefits and perks.
Don’t skip the reference check. Nobody loves calling strangers to get information, but the reference check is still one of the best ways to ensure potential employees are who they say they are, especially since resume lies are on the rise.
A low-performing employee can really hurt your bottom line. Following the above advice will help ensure that you don’t hire one.
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