When it comes to Talent Acquisition, hiring for skill is no longer enough. Measuring a candidate's skill, attitude, competency and culture is key to finding the right fit for the job.
Most interviewing processes do not focus on a complete understanding of an individual’s multiple dimensions, but instead are heavily driven by numbers (for instance, a proven experience at exceeding sales quotas).
This heavy focus on skill in the interview process does not take into account more transcendent qualities such as coachability, emotional intelligence, motivation, temperament, and other competencies, which can lead to new hires being fired.
Losses due to a bad hire rarely end up on a balance sheet, but can be detrimental to an organization. Lost opportunities, wasted time, and overall business degradation occurs when hiring based on factors other than quality.
According to a national survey by Indeed, other hidden costs of a bad hire include:
To alleviate these common issues, avoid "Bad Hire Procrastination." Managers spend too much time trying to change the behaviors of poor performers instead of hiring someone who is the right fit. Avoid hiring an individual based on something other than skill, attitude, culture and competency. Remember: Years of experience does not necessarily equate to skill.
Save your organization time, cost, and revenues by paying close attention to Quality of Hire metrics.