Hire Fast, Fire Fast - A Better Way To Find The Right Candidate
The idea of hire slow, fire fast has been around for decades and it has been the ruling school of thought behind most recruitment processes in the US with most vacancies online remaining open for over a month. Interestingly, in recent times, there seems to be a new recruitment guide on the block - hire fast and fire fast. According to this idea, the most important thing for a company is its internal culture and how it contributes to the efficient operation of an organization. The idea of hire fast fire fast makes the compelling case that to secure a competent candidate you need a two-pronged approach - speed up the hiring process while also weeding out unproductive employees faster to achieve the balance conducive to a healthy company culture and optimum productivity.
Why Hire Fast?
The age-old idea of hiring slow draws upon the somewhat archaic belief that hiring slow is hiring with careful consideration and processes to find the best candidate. But the truth of the matter is while interviewing candidates and whittling down applications you can not really know if the candidate will fully meet your requirements and expectations once hired. In that sense, it’s a lot like any other decision-making process in a company where you don’t know the odds of a successful venture but make an educated decision based on your knowledge and experience - but in the end, the proof of the pudding is in the eating. Here are some reasons why hiring faster could lead to better hires and might be in the company’s best interest.
A Slow Hire Costs The Organization
Dragging recruitment processes longer than necessary comes at a cost. According to a study conducted by LinkedIn in 2017, most companies hiring in the US take anywhere from a week to 4 months to recruit a new candidate. The industry average of a 30 day hire period involves high costs for the organization especially when companies hire for one or two positions at a time. For industries with high employee turnover, dilatory recruitment processes might also incur adverse losses to the organization by compromising efficient operations.
Losing Out On Potentially Great Candidates
Generally, the hiring process involves a few rounds of tests and interviews to narrow down on top candidates for the final selection process. However, from a candidate’s point of view, the recruitment process is worthy of their time only until they find a better opportunity. Usually, the more competent candidates always look for better opportunities in hopes of securing the most lucrative offer. This might cost the hiring organization to lose out on top tier candidates that are the right fit for the role and consequently lengthen the hiring process even further as candidates drop out of the recruitment process to look for other jobs.
Burdens existing employees
Delaying the hire of a new employee puts pressure on the existing workers as they might have to shoulder the extra workload until the vacant position is filled. In search of a good candidate, companies often stretch recruitment processes too long frustrating both the employees working in the organization as well as the applicants seeking the job. It might also lead to an unproductive work culture among current employees or even cause them to resign as the resentment deepens. Oracle is a good choice for your HR management, but SAP goes the extra mile here. SAP manages a plethora of HR functions and allows users to access critical information on them all in one place. Employees also enjoy a designated portal, so they can update their own information as needed. SAP ERP software also helps with things like payroll and offers e-recruiting functionality to help companies know how they’re dealing with employee retention and battling turnover.
Why Fire Fast?
Firing fast does not mean letting go of an employee at the first mistake they make. Everyone deserves a chance to prove and redeem themselves. The idea of firing quicker simply means acknowledging the fact that you made a bad hire and cutting your losses before they start to weigh you down. Firing someone can be a difficult conversation to have but to put it off is to simply delay the inevitable. Firing fast might even seem like a step that would negatively affect the company in the short run but it is actually a more practical and beneficial way to secure the company’s growth. These are some of the reasons why firing fast is in the best interest of both the employer and employee. As you can see, there’s no right or wrong answer for this – it’s dependant on your requirements on your company as a whole and which aspects of your ERP are most important to you.
It’s Already Too Late
The moment you realize a candidate is a bad hire, you’re probably already a month or so late. The inefficiency of an employee often isn’t overtly conspicuous until it starts to affect the company’s overall output and functioning. Keeping an underperforming employee around will only lead to more unproductivity and bad internal culture.
Slow Firing Can Lead To Unproductivity Among Other Employees
There is no room for a weak link in corporates. If you know someone has to be fired but feel it might be impolite to ask them to leave, it can lead to other employees becoming lax or bitter. Being soft on an underperforming employee can make you polite to a fault and have other employees feel less motivated to work. Additionally, a slow fire might also encourage more employees to underperform and create a bad work environment.
Healthy internal culture is the pillar that fortifies every organization and you can’t afford to keep an unproductive employee around to shake that. If you want your company to succeed and your employees to put in their very best, you need to be proactive and dynamic. Hiring sometimes can be difficult, especially when you need candidates for a specialized position or when you just need to hire for seasonal work. In such cases, businesses can benefit by outsourcing redundant processes to a professional recruiting agency that help find qualified candidates at a fraction of the cost. Recruitmotry employs unique and innovative top of the line methodologies in a completely transparent process to find you the right candidate every time. Visit our website or email us at email@example.com to know more.