If you think having a team of loyal, but average employees is doing anything for your business – think again. Mediocre talent can drag down the morale of the entire organization and cost you time and money in rehires.
Why do you have subpar performers in your organization?
Take a look at your recruitment strategy. Is it attracting the right people? Once mediocre candidates make it through your gates, it’s only a matter of time before they must be replaced. Your human resources team ends up refilling the same positions, instead of moving on to other tasks.
Here’s how you can prevent this costly, never-ending cycle:
Develop Your Current Team
The biggest mistake you can make is to hire a promising employee and promptly forget about them. Train and develop employees from the first day and on a continuing basis. Keeping your people up-to-date on best practices and industry developments builds loyalty and increases retention.
Once you have identified ‘A’ players, why not invest in them? It’s much more cost-effective to make the most of your current team than it is to replace and retrain new people.
By the same token, don’t be slow to let go of underperformers. Terminating an employee is tough on everyone, but the sooner you take action, the better. The employee can find a position for which he is better suited and you can replace him with a better fit. It’s better for morale in the long run.
Shorten the Process
Many candidates interview with several companies simultaneously. The best people may even be juggling multiple offers. Stringing talented people along through a long hiring process, conducting an excessive number of interviews or failing to follow up can cause them to lose interest and move on to the next opportunity.
Do this frequently enough and you’ll end up losing the best candidates. To hire the best talent available for the job, put yourself in the candidate’s shoes. Eliminate redundant interviews, make decisions in a reasonable time frame and keep candidates updated on next steps. Shortening the hiring process is better for your company and the candidate.
Build a Talent Bench
Work with your staffing firm and let them know you are always open to hearing about available talent. They interview candidates every single day and could have the perfect person for your team. Stay in touch with your recruiting partner and let them know your recruiting needs as your business changes. This helps to ensure your staffing firm is able to quickly find qualified candidates should a position become available unexpectedly.
You never know – keeping your options open could allow you to uncover extraordinary talent. If you come across an ‘A’ player, don’t lose him to the competition; find a way to bring him on board.
Create Measurable Metrics
Put into practice a performance management system that monitors and encourages the development of your employees. This will help you to immediately separate employees who are doing their part from those who are dead weight.
Controlling your company’s costs by eliminating and avoiding mediocre talent will help move your organization in the right direction. Contact the Michiana recruiting experts, Wood Staffing, to discuss how we can help you be more strategic and control your hiring costs. We look forward to hearing from you!