Business Management

Are you Hiring Practices Right?

Hiring the right people is crucial for the success of your business. Entrepreneurs should have a formal hiring process in place when looking for new staff. The time spent will improve your chances of hiring the best performers and avoiding costly and painful mistakes.

Be objective and make decisions on defined criteria rather than relying on gut feel.

Some factors to consider:

1.     Define Needs: Create detailed job descriptions that reflect responsibilities, skill sets and level of experience needed.

2.     Structure Compensation: Make sure offers are consistent with the structure in the business. Ad Hoc offers that don’t fit compensation of other employees will lead to dissatisfaction and poor morale. Be competitive but be fair to other employees also.

3.     Organize Interviews: use a structured system to measure and compare candidates. Include a team of managers to conduct secondary interviews and provide a broader perspective on key candidates.

4.     Focus on Talent: Hire the most talented candidate to maximize the potential to create a strong team and improve chances for growing your business.

Once the selection process is completed ensure the new employee is given the tools, training and orientation to ensure he/she succeeds. Proper coaching/mentoring goes a long way to ensuring the new employee develops into a productive team member and establishes a solid career with the business. Reducing turnover also improves profits.