Why Your Recruitment Process Is Likely to Fail – And What You Can Do About It

Recruitment is no longer just about filling vacancies; it’s about shaping the future of your organisation. As a CEO, CFO, or Head of Finance, the stakes are higher than ever. Unfortunately, many recruitment processes are flawed, leading to costly mistakes. But it doesn’t have to be this way.

According to the Chartered Institute of Personnel and Development (CIPD), a bad hire can cost a business up to ￡12,000 for junior-level roles and as much as ￡50,000 for senior positions, factoring in lost productivity, turnover, and retraining. Are you willing to take that risk?

Common Pitfalls in Recruitment

1. Unclear Role Definitions If your job descriptions are vague or unrealistic, you’re likely to attract the wrong candidates. Miscommunication at this stage often leads to a bad hire. A survey by LinkedIn found that 52% of job seekers say poorly written job descriptions are the number one reason they turn down offers.
2. Inconsistent Screening How confident are you in your screening process? Without clear evaluation criteria, it’s easy to overlook critical competencies. Research by the Society for Human Resource Management (SHRM) shows that 95% of employers admit to making bad hires due to inadequate screening processes.
3. Rushing to Fill the Position We understand the pressure to fill roles quickly, but rushing almost always leads to regrettable hiring decisions. 30% of UK businesses admit to making poor recruitment choices because they felt under pressure to hire fast. A thorough, strategic process can save time—and money—in the long run.
4. Neglecting Candidate Experience Did you know that 60% of top candidates drop out of the recruitment process if it takes too long? Keeping candidates engaged is crucial to attracting the best talent.

The Impact of a Bad Hire

For the company, a poor recruitment decision can result in missed opportunities, damaged team morale, and the need to restart the hiring process. The Recruitment and Employment Confederation (REC) estimates that hiring the wrong person for a mid-level role can cost businesses up to ￡132,000, factoring in lost productivity, rehiring, and the effect on team dynamics.

For you, the hiring manager, the stakes are even higher. A failed hire reflects on your leadership, costing you time, resources, and possibly your professional reputation.

Strategic Recruitment: What to Do

1. Clarify Your Needs Be precise about the skills, experience, and potential you need. What specific value will the new hire bring to your organisation? Clearly defining these criteria will help attract the right talent from the outset.
2. Partner with Experts Specialist recruiters, like our team at BTG Recruitment, understand the nuances of finance roles. We know how to find talent that will excel in your business. According to a report by REC, businesses working with specialist recruitment firms fill roles faster and with a 45% lower turnover rate than those using generalist agencies.
3. Take Your Time Rushing the recruitment process often leads to poor hires. Taking the time to vet and evaluate candidates thoroughly will pay dividends. As the CIPD notes, it takes on average 6 months for a new hire to reach full productivity, so making the right choice is critical.

The Risk of Inaction

If your recruitment process is failing, the risks are high—lost productivity, poor team morale, and damaged business performance. Ignoring these flaws could cost your organisation not just money, but valuable opportunities to grow and innovate.

Don’t wait until it’s too late. Book a free consultation with BTG Recruitment today, and let’s ensure your next hire is the right one. We help CEOs, CFOs, and Heads of Finance secure the best talent—first time.

Click here to schedule your free consultation

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Matthew Finch

Managing Director

BTG Recruitment