Choose Wisely: Are you ready to hire?
Today's blog post will focus on growth. We’ll start from the beginning for those of you who are ready to hire your first employees. There are a few things to consider before hiring an employee. Traditionally, it is said that you look for a candidate with a specific skill set, experience and education in order to choose the person that is the best fit for the position. Typically, it’s the applicant who’s selling themselves on why they’re the best fit for the position.
Let’s turn the tables for a minute here in order to look the hiring process from another perspective. It’s not about selling the person on the position, it’s about “selling” the potential candidate on the idea that they’re contributing towards your dream, helping your vision come to fruition. Think about what message you want to convey to every person who walks through the doors of your office looking for a job.
What will you say to them that compels them enough to want to work for you? These are potential candidates who, if hired, will give a great deal of time, hard work and effort into helping your dreams come true. What will you offer them in return for their investment, other than a pay check? Of course, added perks like, free lunches and happy hour are an added bonus but the opportunity to grow both personally and professionally is as important as perks and incentives.
According to an article citing the Center for American Progress, losing an employee in a position that pays $30,000 - $50,000 per year can cost a company 20%. For highly-educated positions, that number can increase to 213% of that employee’s annual salary. Even a perceived low annual turnover adds up over time, resulting in lost opportunities for profitability and overall competitiveness. An organization that has focused on fostering an environment where their team members are challenged, recognized and rewarded for their hard work, most importantly, appreciated for their hard work are less likely, to leave their companies.