It's All About the Fit!
Hiring is becoming more competitive in the local market again. Local unemployment figures for February 2011 showed a slight decrease from January 2011. According to the Bureau of Labor Statistics, the February 2011 unemployment rate for Washington, D.C. was 9.5%, while the unemployment rates for Virginia and Maryland were 6.4% and 7.1%, respectively. Job growth continues to be a leading factor in the overall decrease in unemployment. While this is great news for individuals looking for employment, companies remain charged with the critical task of finding the right talent. At the same time, employers must realize that the decrease in unemployment is causing the workforce to change.
Filling your open positions requires a great match of both skills and cultural fit. Rightly, companies want to search for that "perfect fit," but they may have limited time to conduct a thorough search. The result: weeks and months can go by, existing staff become overextended and the company falls victim to the short-staffing phenomenon of hiring a 'warm body' that seems to meet the basic needs. This type of pressured hiring nearly always results in mistakes.
Unfortunately, the financial impact of a bad hire is staggering. In a study completed by CCH, one in four hiring managers reported that even one bad hire cost their businesses more than $50,000 in the last year alone.
Companies can avoid this type of costly mistake by taking a few proactive steps with respect to hiring:
- Understand your true organizational culture. Perception is often not reality, so solicit feedback from your team in order to gain a better understanding.
- When interviewing potential candidates, consider their cultural fit as much as their skill sets. It is typically much easier to train a new employee on a particular skill than it is to try and teach them how to blend in with your organization's culture.
- Ensure that candidates understand the outcomes of the position. Clear communication of the short- and long-term goals serves both you and the candidate well.
At Helios, finding the right candidate and hiring for 'fit' is our priority. We can help our clients find top talent through two different recruiting models, which saves them both time and money. Please contact Bridget Pulivarti at firstname.lastname@example.org to learn more about how Helios can help your company find the right fit for your organization.