How Much Effort Do You Spend Before Making A Hire?

Imagine your organization needs to make a $50,000 capital expenditure (equipment, IT, renovations).  Before making the investment, what actions might your team make?  Would the team gather with an objective expert to discuss the specifications needed?  Would you talk to several suppliers and assess various options?  Would you talk to references from the supplier to determine if they are trustworthy?  Would you make further purchases (insurance, warranties, training) after delivery to protect and maximize the investment?

Most leaders would answer “of course, $50,000 is a lot of money and we don’t want to make a mistake.”  Why is it then that hiring managers don’t put forth as much effort when making a $50,000 hire?

Before making a hire, leaders should gather the job’s stakeholders to determine what is needed from the role and the type of person who fits best.  Hiring managers should interview and assess several candidates.  Hiring managers should talk to candidate references to make sure they are the right fit.  Hiring managers should also invest in new hire training to ensure the new hire’s success.

And, unlike a capital expenditure, a talent investment will appreciate over time.

Empower your team to treat your people investments with the same diligence as capital investments and you’ll experience more success.

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