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How to Avoid the $50,000 Hiring Mistake

Posted on Fri, Nov 30, 2018 @ 07:00 AM

It goes without saying that employers want to recruit and hire the best talent in their industry. From attracting great candidates, to moving them smoothly through the application and onboarding process, and creating a positive view of their company right from the start.

But what if internal processes aren’t set up to support efficient and effective hiring? Do HR staff have the support they need to manage screening, hiring, administration, and reporting? Are they able to consistently comply with company policies and procedures throughout the recruitment and onboarding process? Are they capable of avoiding costly hiring mistakes?

The consequences of getting recruitment and applicant tracking wrong can be significant:

--More than half of employers say that a bad hire has had a negative impact on their company, whether from lost revenue and productivity or damage to employee morale and client relations.

--Twenty-seven percent of U.S. employers report that a single bad hire can cost more than $50,000.

--The longer it takes to get a new hire onboard and ready to work, the longer it takes for that employee to add value to an organization. A recent survey found that 61 percent of respondents have a four-week or longer hiring cycle, and 20 percent have an eight-week or longer cycle.

The value of an automated recruitment solution

Adding an automated, integrated recruiting solution to a workforce management application gives employers enterprise-level technology for staffing their organizations with the best people for the job. Today’s premier recruitment and applicant tracking solutions for SMBs simplify the process of recruitment by offering automated hiring tools and integrated reporting that help them keep track of applicants and select the most suitable candidates.

Applicant self-service eases HR workload

Applicants expect the ability to create an online profile, search and apply for jobs, and upload their resume quickly and easily. On-screen confirmations and automatic emails let candidates know that their applications have been received without HR staff needing to get involved. And at any time throughout the application process, candidates can log in to the system to update their profiles and check the status of jobs.

Prescreening saves time and prevents complications

Allowing employers to evaluate applicants based on configurable prescreening questions delivers big benefits. Solutions offering third-party services such as Social Security number validation, background screening, E-Verify®, and more to flag potential issues and move the hiring process forward put employers ahead of the game in identifying best-fit candidates.

The onboarding advantage

Leading solutions today accelerate the onboarding process so new hires become productive sooner. Once a candidate is hired, all applicant data should automatically flow into the new employee record, so there’s no need to re-enter information and take the chance of errors entering the system. A configurable onboarding checklist can provide task assignments that track each component of the process — from start to finish.

An integrated solution

Recruitment, applicant tracking, and onboarding solutions should be integrated directly into the employer’s workforce management platform, including payroll, HR, time and attendance, and related solutions. With information that’s already been collected from candidates automatically sent to workforce management applications, personnel can streamline administrative tasks like submitting W-4 and I-9 forms, electronically defining benefit eligibility, tracking premiums, enabling self-service benefits enrollment, and managing payroll deductions.

Recruiting and Hiring Report

   

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