Do Bad Recruiting Practices Cost you?

If you look at it from a business perspective, recruiting lays the foundation of a company's ultimate performance. However, there is no denying that firms constantly neglect the importance of this process. As everyone focuses on getting their job done, you never realize when bad recruiting practices start creeping into the system. And the results are abysmal!?

According to a survey,?49% of 1000 US respondents?turned down a job offer due to a substandard recruiting process. So, imagine finding the candidate of your dreams, and they turn down the job offer due to the flaws in your recruitment system. You wouldn't want that!

The Loss From a Bad Hire?

While the top talents slip right out of your hands due to your system's flaws, you get to choose from only a handful of qualified candidates. When that happens, the chances of a bad hire are high. And we all know how astronomically a bad hire can affect your company. Let us back these statements with some factual information:

• According to?Career Builder, a bad hire costs about $15,000 to a company and losing a good one can cost up to $30,000.
• Undercover Recruiter?estimates the expenses of a bad hire to $240,000, including the cost of hiring, remuneration, and employee retention.?

The cost may vary from big to small companies, but it ascertains that inadequate hiring leads to losses. So, what is the solution here? Let us look at some better hiring practices you can adopt to pick the top talent and make them stay:

3 Failsafe Recruiting Practices?

Creating a Circumstantial Job Description?

Your job description or ad is how you get the word out about an open position. Make sure it talks clearly about the following crucial points. Don't use a generalized cut and paste description:

• Functions and responsibilities?
• Exact Skills required on a day to day basis?
• The scope and limits of the role?
• Performance standards?
• Growth Opportunities
• Salary range?

If your hiring authority finds it challenging to frame interesting and detailed job descriptions, you can seek help from a recruitment expert.??

Streamline the Interview Process?

Look into your interview process closely. There are chances you might be following outdated interview processes or practices. Candidates with high qualifications and experience judge the companies by how well they conduct the interviews. If they feel your company's interview process is outdated and does not keep up with the latest trends, they might not be ready to get on board.??

So, get an interview panel prepared for the recruitment process. Make sure you have all the right experts on the board who can closely judge the candidate. All these experts must know how to interview candidates. So, make sure you check that in advance to avoid blunders.?

Finalizing the Candidates list

Even after selecting a candidate who is the perfect fit for the job, the recruitment process does not end. The onboarding process is taxing and needs unswerving attention to intricate details.?

For instance, before you finalize the final set of candidates, you need to go through their references and enquire before sending out the offer. Also, don't forget to get back to the candidates regarding the interview's following process, the steps they need to take, etc. If your hiring process gets delayed, keep the candidates posted.?

It helps you reflect that you respect the time of your candidates.?

With these three practices, you can straighten out your recruiting process and hire top talent for your company. If you think your teams and management are not well-equipped to carry out the process smoothly, seek the services of a?recruitment company.?

With diligent efforts, industry expertise, and professionalism, a recruiting company can help you sail through the recruiting process smoothly. You can save a great deal of your time, money, and effort!?