The cost of a bad hire can account for up to 30% of an employee’s salary in the first year, according to the U.S. Department of Labor. According to human resources consulting firms, it varies between 25,000 and 250,000 euros.
For sales people, the situation is quite different. Add up the time and energy dedicated to the hire process, the ramp-up time, lost opportunities for whatever reasons, and you would agree half a million has been invested and lost before making the decision to cut the cord.
A bad hire can tarnish your reputation and dramatically impact your team performance. According to Concur founder Steve Singh, hiring the best talents account for 80% of managers success, from first line field managers to the C-suite.
Why do we find job descriptions that sound like a laundry list of skills and knowledge that no candidate is likely to have? Why do we still see 10 steps hiring processes where everybody has their say without knowing exactly what they are supposed to validate?
After an audit of your hiring process, the approach is simple: crafting the ideal job description, your Success Factor Matrix and an approach adapted to your own “A” candidates. You will be able to replicate this process so that you never make a bad hire again!
Discover and train your teams to the Success Factor method.