How a bad hire can impact your business

A bad hire is, well, just no good all around.

But to make matters worse, there’s a lot more to lose today than say, ten years ago when companies had more cushioning and weren’t competing as hard for the best people.

The information age and talent-led market is making finding the right people more difficult, and to remind you of how important it is to invest in a hought it would be a good idea to point out three ways your business is impacted when a new hire doesn’t work out.

It used to be a lot easier to take a new hire that wasn’t quite the right fit and move them to a different department where they could adapt their skillset. But with the fast pace at which businesses are needing to adapt to changing technologies, it’s proving more and more difficult. Employees are now asked to do a lot more than their immediate job for an organization to stay ahead of its competitors. The trouble is, not everyone is as adaptable or willing to take on the extra responsibility.

Second.

Technology is having a massive impact on the way we work, because everyone’s looking for a way to get things done quickly, easily and with minimal room for human error. Depending on a person’s age and work history, people looking for work will have varying abilities to integrate when it comes to modernization and automation.

Last, but of course not least.

With fewer hierarchies and less managers present in most small businesses, people are working with less supervision and more autonomy. Not everyone, however, can flourish when there isn’t clear direction, regular performance reviews, or clear career pathing. So you really have to look for that person who is ready to take on the work and motivated to accomplish great things without a lot of hand-holding.

On the upside

There are also people out there looking for work who are multi-talented, and would thrive in a small, growing business. The younger workforce in particular tend to be fairly well acquainted with the automated technologies and digital platforms that keep businesses going, and being new to the general working world leaves far more room for growth when it comes to testing out different managerial structures.

With all that in mind, it’s integral to any business to keep costs low. So, when it comes to hiring, you’re better off getting it right the first time around. Knowing that there’s talent out there that can fulfill the new criteria we’ve highlighted is a great start, because it encourages us to keep an open mind when we’re looking for someone new – especially if you’re trying to hire on a budget.

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