Build the framework of a great organization and ensure lasting success.
Common sense tells us that hiring the right employees is absolutely vital to the success of a business. From a global organization with thousands of employees to a small start-up, having quality staff undoubtedly makes the difference between long-term success and failure. Quite frankly, it’s impossible for a business to stand apart from its competition without a core team of excellent employees who are committed to working towards the same goal. This is why it is so important to make sure you are hiring nothing short of the best for your business. Here are three reasons why hiring the right employees to help to build the framework of a great organization and ensure lasting success.
Business owners and managerial staff need to be vastly aware of the negative impacts that a bad hire can have on operations. Not only does their poor performance directly impact the employees around them, but it can also drive down sales and cost your team tens of thousands of dollars in unnecessary expenses.
According to a 2016 CareerBuilder survey, 75 percent of employers said they have hired the wrong person for a position. Those who had a bad hire affect their business in the last year reported an average loss of $17,000 which was directly attributed to the employee. Here are some of the most common ways employers say a bad hire affected their business in the last year:
- Less productivity: 36 percent
- Compromised quality of work: 33 percent
- Affected employee morale negatively: 31 percent
- Lost time to recruit and train another worker: 30 percent
- Cost to recruit and train another worker: 30 percent
One of the major challenges that you may be facing as a business owner is establishing a reputation within your industry. Whether you’re a fresh-faced entrepreneur or a seasoned CEO, every business owner want to ensure that their company name is held to the highest standards of quality service and professionalism. An immense part of that responsibility falls on the employees who are essentially the face of your business. For this reason, it is imperative that you have nothing short of the best people onboard.
Any brand with an admirable reputation will tell that it didn’t happen overnight. In reality, it can take years for a business to build a strong reputation and just one mistake from a rogue or careless employee can completely destroy that reputation in seconds. There’s a reason for the expression “one bad apple spoils the bunch.” It seems like every day there’s a new PR crisis centered around the viral acts of one bad employee which reflects negatively back to his or her employer. That being said, the opposite is also true and one outstanding employee can have a lasting ripple effect on your how the company is perceived by outsiders. This goes an immeasurably long way in establishing your reputation.
Qualified employees are not only a key component in keeping your clients happy, but they are also essential to the work culture of your team. The first employees that you hire are likely to set a precedent for years to come so it’s critically important that you choose wisely. Those initial hires will go on to become seasoned staff that is fundamental to the company’s internal ethos. When you recruit the type of people who will facilitate that desired culture, it helps a business to continue a pattern of hiring like-minded employees. This has an immediate impact on the quality of your business and helps to progressively move your organization towards a successful future.
From Facebook to the mom-and-pop cafe down the street, there is not a business alive that could continue to operate effectively and successfully without its most important and valuable asset—the employee. No matter what field you’re in, having employees who are dedicated to the long-term success of your business is crucial to ensuring the longevity of your endeavor. Making the wrong decision in the hiring process will unquestionably lead to future stress and complications that can hinder the success of your business. Bringing the right people on board and encouraging their growth is crucial so don’t forget the old adage of “hire slow, fire fast.” Take your time with the recruitment process and think long and hard about what your business needs in order to hire quality employees that are “the best for the best.”
You may also like…
- Three Reasons Every Small Business Should Use A Hiring Firm
- Multi-Family Builders Listen Up
- Is Your Hiring Agent a People Person?
Don’t forget to give us a follow on social media!