A business is only as strong as its people, which is why it’s crucial to find and hire the right employees. However, according to a CareerBuilder survey, 74% of employers say they’ve hired the wrong person for a job. And the negative impact of those bad hires? Out of the 2,257 hiring managers polled, 37% cited less productivity and 31% indicated compromised quality of work.
In another report by the Center for American Progress, replacing a single employee costs around 16% to 213% of their annual salary. Given the costly implications of putting the wrong person in a position, it is extremely important to ensure that you have an effective recruitment system in place.
Reviewing CVs and short-listing candidates based on educational attainment, professional qualifications, experience, and skill sets only represents the beginning of the process. The job interview is equally, if not more, important in assessing the potential on-the-job success of candidates.