Recruitment isn’t an easy process. When you’re a small business owner who needs help with your rapidly growing company, it can be tempting to employ someone as quickly as possible to bring in an extra pair of hands.
There’s also pressure to get the best candidate before they’re snapped up elsewhere – a consequence of the “race for talent” where rival firms will be interviewing the same people at the same time.
However, a rushed decision will leave you with the wrong candidate, and an unsuitable employee having a negative effect on your business. Here are just some of the consequences associated with recruiting the wrong person:
Bringing in an unsuitable employee will hit you where it hurts most – in your pocket. According to the CIPD, the average financial cost of recruiting the wrong person is £12,000. That’s not an amount of money any business can afford to keep throwing away.
In addition to having to pay the wages of an unproductive employee, there is the cost of recruitment. HR Review added up some of the potential figures:
Hiring temporary workers before the replacement starts: £3,618
Management time spent interviewing candidates: £767
Recruitment agency fees: £454
Advertising the new role: £398
HR time spent processing replacement: £196
As well as the financial cost, poor recruitment will cost you time. Starting with all the time set aside for shortlisting and interviewing candidates, and continuing with the training and management of the employee, it’ll turn out to be time wasted when they turn out to be unsuitable.
You’ll also have to repeat the process to find a better employee, when you should be concentrating on running your business.
By spending too much time trying to train and retrain an unsuitable employee, your own productivity as a manager will suffer as a result. You’ll be unable to support your existing employees, leading to a drop in their productivity too.
What’s more, if the unsuitable employee is left to do the job and cannot do it to a satisfactory standard, then other employees will have to pick up the slack and do it for them, damaging their own productivity further.
Having to cover for a colleague unable or unwilling to do the job properly will hurt your existing employees’ morale. They won’t take kindly to having to correct mistakes and take on an increased workload for too long, and may become disengaged as a result.
There’s also the risk that the new employee will not get along with their colleagues due to being a bad fit and taking up so much attention from management.
Ultimately, the key to avoiding these problems is to get recruitment right first time. This way, you know you’ll be employing the best possible candidate and retain them by engaging them with their work early on.