The Risk of Making the Wrong Hire: A Real Career Killer

In any economy but especially a weaker one (read: lay offs) people in leadership roles (particularly Director or VP spots) are often the most exposed to risk when it comes to the stability of their own jobs.?

One of the biggest difference makers can be the quality of hires you make. This can elevate a leader or cause to their career to regress.

Worst case, they may even lose their position. The trend is your friend or your foe.

Let me share a study with you:

Leadership IQ conducted a 3 year study that involved

• 312 companies
• 5,247 managers
• Approximately 20,000 hires

Here’s what they found - at the extremes - within 18 months:?

• 19% were successful hires, contributing to the organization at a high level
• 46% were failures (a mis-hire), bringing down overall performance

Summary:

• 50/50 ‘flip-of-the-coin’ chance your next hire will be a mis-hire within 18 months…and if they last, odds are they will be an average performer at best.
• 46% bad hires + 35% who are the average performers = 81%. Wow.

Conclusion

You do not want to play Russian Roulette with your career when it comes to the your hiring game. Assuming a 1 in 5 chance you end up with an outstanding hire, it may be worth considering engaging a seasoned recruiter who really knows your market. They’ll understand the right questions to ask to weed out poor performers, where compensation levels need to be to attract top talent and how to engage that talent.?Often recruiters, like myself, take all the risk upon themselves and are only paid if they successfully fill the position.

Its a win-win situation if all can come to the table with a shared commitment to an excellent outcome that ultimately elevates both the leader and the organization.