Organisations are as good as the people the have, but hiring the most appropriate candidates is challenging and more often than not, it is not well done. From HR Remedy India view nothing that an organisation does is more important than hiring the right individual. Research ago defines mis-hiring is 50% in the top 100 organisations of the world by using the best search firms & having best internal processes.
According to HR Remedy’s recent research mis-hiring has moved up to 65%. Surely we need to improve as every mis-hire costs an organisation a minimum of 26 times the candidate’s annual compensation package & can extend up to 100 times. Hence we have to analyse what goes wrong how it improves to the best.
Compatibility : Organisations are smart enough to hire smart, educated, appropriate experienced candidate with good track record. But still it results to mis-hire not because candidates is bad it because there is lack of compatibility of candidates with culture, ecosystem & mindset of key stakeholders of in an organisation. HR Remedy India pre-suppose this will happen even though candidates can change 25% to 35% and adapt 80% of themselves. This is the reason some have great success but fail miserably elsewhere. HR Remedy must understand which categorized person’s work best with key stakeholders, specially the candidate’s boss to determine not only the relationship but outcomes incompatibility can be disastrous.
Understand the Candidate’s Strengths and Weaknesses: Do not discuss career of candidates till you have understood his/her DNA, which is permanent and difficult to change. Rushing to understand the career of candidates is not possibly best way to start interview, first understood him as human being and what drives him in life. Some candidates comfortable to discuss their strength but number of candidates become uncomfortable to same. They start to display their strength as weaknesses — for instance, i work too hard and do not have work-life balance, I am impatient for results, etc. As every human being has weaknesses and idiosyncrasies, if it most important to know them as they can be derailers.
Priorities what you want achieved and what are critical success factors: Job specification are more specific and clear so the individual should achieves. So it is good to focus on them rather than the entire list. Therefore organisations should invest time to get clarity on the key deliverable and even priorities them.
CV: It is more important document to understand what candidates brings to the table. Insist on a four page cv instead of a short one. It helps if the CV is in reverse chronological order that details each assignment with time spent in each tenure as this will inter alia help understand a candidate’s career graph and evolution.
A two page CV or a consolidated one with adjectives will not help you. Also meet the candidate at least twice with the last interaction focusing on role play.
Finally evaluate the mis-hires and the why’s of it seriously to not repeat a mistake. No organisation will be devoid of it. As all jobs have become complex and are fast changing, anything that improves outcomes is useful to the organisation.