There is an epidemic running rampant across all industries. Business owners, hiring managers, and recruiters alike are complaining about the same thing: A shortage of talent.
This isn’t anything new. This has been going on for years. There are just not enough experienced candidates to go around to keep up with the demand. Plus, the experienced job seekers that are looking for a new job are being more selective on the next step in their career path.
On the surface, it makes financial sense to hire someone who is already experienced. Training will be quick and easy because getting them up to speed will take minimal time. They will be independently working in no time. This has taken a strain off of you and your staff. The workload can be shifted straightaway.
By hiring this experienced candidate, you think you will save time, money, and peace of mind moving into the future. However, you need to consider how much money you have already spent on advertising and other resources, plus time interviewing candidates.
To find an experienced candidate that will fit in your office culture can take an average of 3-6 months and upwards of $11,000+. And, if you lost your experienced hire to a competitor, you would be back to square one with the added issue of dealing with your staff’s diminished morale due to their untimely exit.
Despite these considerations, the thought of bringing an inexperienced person onboard is unthinkable and considered a waste of money. Many will argue that bringing on someone that is inexperienced can cost upwards of 30% or more of that person’s first-year income due to training costs. However, on the flip side, losing an experienced person can cost just as much, if not more.
So what is the solution?
Don’t limit your candidate pool.
When looking to fill a position, don’t limit your candidate pool. Widen your net by including ALL qualified candidates. A qualified candidate should have the skills and abilities that will allow them to succeed at the position.
Trainable and coachable candidates
Any candidate you are considering should be capable of learning their new job and readily accept constructive criticism. They should be open to a new way of doing their job without argument.
An experienced candidate does not mean they are trainable and coachable or that they will be willing to learn your ways. Some experienced candidates are only willing to do things their way and are more than happy to tell you that.
The qualified candidate should have a positive attitude. This will make training them easier. A candidate with a negative attitude makes training difficult because they will be resistant and question policies and procedures.
The qualified candidate should be able to take on a challenge and come up with a solution without quitting. Their out-of-the-box thinking should set them apart from everyone else.
Invest in your new hire. For example, if you are looking for a sales producer, invest in sales training, conduct role-playing scenarios, practice common objections, and, most importantly, teach them how to leave their customers better off than when they started the call.
Looking for new staff is hard, especially when you limit yourself to who is already licensed to do the job. By following the above steps, you will reap the benefits of creating your own “talent” for your office by investing in your new staff. This investment promotes employee loyalty to you and your company brand. And employee loyalty is always the ultimate goal for any business owner.
If you have any additional questions regarding this article please feel free to reach out, we are here to help.
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