Tuesday, May 29, 2007

No Hire is Better than a Bad Hire

Terrific article today on ERE by Dr. Steve Hunt, Chief Scientist @ Unicru Kronos (workforce management experts).

Quick excerpt:

As companies find themselves faced with fewer job candidates, there's a
natural and logical tendency to "lower the bar" when making hiring
decisions. Candidates who would have been eliminated from the candidate pool
in an abundant labor market are now being considered as potential hires.

The longer jobs remain unfilled, the more hiring managers and
recruiters shift from seeking the best candidates to simply finding someone
who meets the minimum job requirements and is willing to accept the

Every recruiter - hiring manager has faced this at one time or another. And it exposes an ugly (hidden) reality:
hiring mistakes cost more when there are fewer good candidates.

Here's three hints as to why:

1) ...it has something to do with increasing hiring costs

2)...it also has something to do with the qualified candidates that weren't hired

3)...and finally, it has something to do your current "star" employees

If you are in the business of recruiting, check out the article that is Hunt's first in a three-part series here:

No Hire is Better than a Bad Hire.

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