This infographic goes over the “Cost of a Bad Hire” according to a survey by Careerbuilders – the pattern is – Your company is growing and your desperately looking to fill the position as quickly as possible – to stop the pain. Which then leads to putting the wrong person into the role you want to fill – but that ultimately ends up costing you even MORE than if you take the time to do it right! So the true costs of hiring bad according to the is 41% say the cost of a bad hire cost them 25k AND 25% say a bad hire cost them 50K.
And the costs go beyond cash. Some examples are (1) lost worker productivity (2) lost time to recruiting and training another worker (3) expense of recruiting and training another team member (4) negative impact on employee morale (5) negative impact on prospects.
And again this all boils down to the “reasons” we hire wrong – which we’ll dig into but we have the percentages (1) but 38% needed to file the position quickly (2) 34% say it just didin’t work out (3) 21% say they didn’t test or research enough and (4) 11% didn’t do adequate reference checks.
Bottom line – the minimum hard “cost” of a bad hire is 25k and that DOESN’T INCLUDE (1) lost worker productivity (2) lost time to recruiting and training another worker (3) expense of recruiting and training another team member (4) negative impact on employee morale (5) negative impact on prospects
When you have a “bad hire” in your practice it can and will be the biggest pain – it is hands down your highest budget line item – it’s your biggest loss of time – it’s often the biggest impact on your clients/prospects and referral sources AND think how that impacts your frustration levels and your confidence?
First of all I’d enouJoin the Yes Chick Blog! Tons of information on how to read a resume, etc.
So the first part of this is reviewing the resume – and making certain that they align with what you have have clearly decided on in the job description and the ad you placed. So now you have all these resumes in your office. Scheduled a block of time in your calendar to review them. It’s worth you not just looking at them and deciding while your walk from one meeting to the next. You’ve spent the time and money on the ad – now take a block of designated focused time to review the resumes.
What you need to look for to narrow it down to two piles. An “A” Pile being – these are the people that are worth your time and a “B” pile – they aren’t worth your time.
A Pile have a (1) customized cover letter – showing they have put time, thought and paid attention to detail into their first impression (2) spelling and grammar are spot on. (3) easy to find qualifications – they match your ad – for example you had they must have legal or receptionist experience and they do or don’t. (3) have they customized their cover letter and resume to fit your needs – taking the time to “fit” you’re needs.
Creep on em’
Interview script / process / sample interview – get Kyle suggested interview questions.
Join the Yes Chick Blog! Tons of information on how to read a resume, etc.
Now you have hired. This is the next piece of the process for both your existing team and the newly hired team member. The onboarding process is going from (1) you’re hired you start Monday at 8am to (2) them owning their role and being empowered in it and fully engaged. The most important thing we can do to support them in this is to connect with them anchoring to their Kolbe, Strengths Finder and review the “Power in Partnership” webinar that’s on the LWP site. I recommend you ask your existing employees to take a survey on what their roadblocks were and what helped get them past those roadblocks and implement that into your onboarding.
The first part is getting your firm culture in their bones. And part of this is knowing what is expected of them day in and day out and that it’s measurable. It’s attached to reporting so that you know what’s working and what isn’t working. That they do and you are having conversations about this. Setting clear due dates on projects and a path and plan for how they’ll achieve them. Declaring what you are willing to commit to – who is doing what. If you have all of this, you can truly hand off their tasks or projects to them with check-ins via reporting for them to reach goal.
They have got to know and get the value you create.
They need to know how and why they contribute to this!
The first week let them shadow and absorb so they “get” this by observing the difference you make – attend a workshop, and review the entire LWP Enrollment process. Make sure they watch all those pieces on the website. From ICF to Workshop to Vision to Design to Sign to Maintenance.
Assume they know nothing.
And honor this as a process nothing flighty but structured. Yes Chick has a complete 90 day training guide to suport you with this process written the first 30 days, the next 30 and so on.
Process in the book – give us a card and we’ll ship it to you!
Even if a team member is good across the board in all other places – when they become a disruption to our team, your prospects, clients and future opportunities you need to take it seriously. It’s contagious and it bleeds everywhere in the business. Even if it just starts internally with just the team – it needs to be addressed. And when and if it gest to your prospects and clients and future opportunities it’s compromising your brand. And once you do that in other people’s opinions there isn’t much you can do to get it back – and it costs a tremendous amount of time and money to do so. Time is money and any amount of disruption costs you money.
This creeps up in little things at first – but what we need to pay attention to and look for is are they trying to fix it. Do they have the tools they need. Have you had a crucial conversation with them about this and are you verifying and clarifying and supporting them in their Koble, if you are and they continue to get worse – and have an “I don’t care” attitude, you need to make it clear under no uncertain terms that they have x amount of days to change it, or they will be let go. Clean it up early.
Bottom line - your success is one thing. But your image, reputation and/or integrity are forever. Honor them and don’t settled for anything less. And when you have someone on your team that isn’t it should not be tolerated. Period. You can’t get this back and need to shut it down. You all have worked so hard to be right where you are. And don’t let anyone take that from you. These aren’t things you can teach people. These are the things you do when no one is looking and it takes courage to do what you do each day but it can take a second for someone to take them from you and compromise them. Don’t’ allow anyone to damage or take this from you.
3 Strikes and you’re out – period. Don’t wrestle with it. Don’t overthink it – you’ll loose sleep. If you do you are more than likely to find “reasons” not and it’s so difficult not to feel “responsible” to them. You might like them too. The pain of living with the problem is not as bad as the pain you feel when you think of terminating so it’s delayed. It’s hard and it doesn’t get easier with time. But did you know that 9 times out of 10 there is a feeling on both sides that it’s not working out, in which case the termination – after the shock of it – turns into relief.
So, if you’ve had a (#1) crucial conversations with them, and (#2) you have been looking at tracking and reporting and the writing is on the wall then - #3 strike is you’re out.
A recent study by LinkedIn found the top reason people left their jobs was because they wanted greater opportunities for advancement. Companies are losing talented employees simply because no one is communicating about opportunities and needs. The solution of rewarding talented staff by reallocating them is a step in the right direction but you need to do so strategically. Have a clear understanding of what their goals and working styles are and move them accordingly. And this is why Kolbe is so very important to the job descriptions in the firm.
It’s awful to part with employees, particularly when they are good people who are good at their jobs. If it turns out that you don’t need a particular position, the only thing you can do is to make a change to make room for the people and the positions you really do need. Is that a possibility? If so do it strategically – revisit the job description and the Kolbe and make certain it’s a good fit.
This is all there is to it. Don’t veer away from these fundamentals and get into anything more – it just becomes uncomfortable and prolongs the conversation. This is not a time to say that you told them so, or what they could have done differently, or how much better things will be without them. Nor is it the time to make yourself feel better about your decision by belittling the employee and minimizing their contributions so that you can feel justified. Being terminated is a terrible experience, even when it is well deserved. Take the high road.
Once they’ve left, share the news with your team. Try to plan for this, by giving yourself time in the day’s schedule to notify the rest of your staff. In a smaller company, ideally this happens at an all-hands meeting so you can tell everyone at once, face to face. (In larger ones, it’s probably not of concern to all staff, so use your judgment on who needs to know.) Explain in broad brushstrokes how you arrived at your decision, so that it’s clear to them what happened – but refrain from sharing any details. This is a good time to reprise your “poor fit” explanation. You don’t need to justify yourself, though you may feel inclined to; odds are, they were as aware as you are of the mismatch, so while they may feel some shock on an emotional level, they will likely understand the business sense in the decision. It’s also important to maintain consistency, as it’s likely that some of them will maintain friendships with the departed employee, and they will hear his/her side of the story. Let them know you’re available to field questions privately if they have any. Now is also a great time to reassure them that they are appreciated and that you’re not embarking on a round of layoffs (assuming those things are true) – as the news will likely make them a little nervous about their job stability.
Breathe some more. Feel that butterfly of liberation unfolding its wings in your belly? That’s a sign you just did the right thing. Now go talk to the rest of your team, change any top-secret passwords, and then go for a walk or something to work the adrenaline off.
And on that note…