Hiring the wrong person can have a major ripple effect.
Making poor hiring decisions can cause disruption to the workforce, decrease employee morale and lead to missed business opportunities. It’s important to get it right.
“If I were running a company today, I would have one priority above all others: to acquire as many of the best people as I could. I’d put off everything else to fill my bus.” – Jim Collins, Good to Great
During an industry event, a US company executive conveyed to us their concern regarding a shortage of talent in their organization. They asked to be notified of any excellent candidates in the market, regardless of their function, as they could create a position for them if they were the right fit. Smart companies are always on the lookout for the ‘right’ people.
Top talent attracts top talent
Talented individuals want to work alongside other talented individuals, learn from them, and contribute to a high-performing team. The better hiring choices you make, the better candidates you will attract.
The opposite is true. A company that has a reputation for an underperforming workforce can deter great candidates and attract lower quality applicants. Discernment in hiring choices is key.
Tap into their networks
Another benefit of hiring outstanding candidates, particularly at an executive level, is that they have their own networks. They are likely to know other top performers in the industry and may refer peers to open positions within your organization. This drastically increases your chances of not only hiring an exceptional candidate, but someone who is a right cultural fit for the team.
Tips for hiring the right people
Attracting the best talent, particularly in a competitive job market like JPAC, is an art form. Here are our top tips for successful hiring:
Start top down: Channel resources into securing executive candidates who have the ability to build or attract top teams. They will have a big impact on workplace culture, potential and growth which in turn should appeal to other top talent.
Culture fit matters: While technical skills and competence are generally the focus of interviews (because it’s easier to assess), this is often a poor indicator on whether a new hire is right for the position. Competency is important, but don’t forget the importance of a great cultural fit.
Be clear on objectives: Failing to consider or articulate what a candidate needs to achieve in a role can lead to hiring the wrong person. Define measurable, achievable, quantifiable and time-bound objectives that reflect the needs of the organization.
At Morunda, we know that making sound hiring decisions is the key to increasing market share.
Book a discovery session and find out how we can help you secure world class talent to grow your firm.
