If you have ever traveled the Underground in London, you will have seen signs and announcements to “mind the gap.” Some platforms on the London Underground are curved and the railroad cars that use the platforms are straight, thus a gap is created when a train stops at a curved platform. “Mind the Gap” warns passengers of the risk of sustaining injury by stepping into the gap.
The Harvard Business Review states that as much as 80% of employee turnover is due to bad hiring decisions. The U.S. Department of Labor currently estimates that the average cost of a bad hiring decision can equal 30% of the individual’s first year potential earnings. According to HR.com, it costs $7,000 to replace a salaried employee, $10,000 to replace a mid-level employee, and $40,000 to replace a senior executive.
Merriam-Webster’s online dictionary defines a mentor as a “trusted counselor or guide.” It is generally someone who has been through what you are currently going through. It is someone who has the experience and the ability to utilize that experience to guide someone who is less experienced. It is someone who can take the “book learning” and apply it to real-life situations.
If you’ve ever hired anyone, you know that hiring is more of an art than a science. You simply can’t make it a totally objective process. There are ways to make it as objective as possible, and these should definitely be used; however, much of it comes down to subjectivity and our own inert biases.
“First-rate people hire first-rate people; second-rate people hire third-rate people.” —Leo Rosten
Is there a better way for businesses to find good candidates? I think there is. Given that all businesses try to run lean and mean, and many companies just don’t have bandwidth to truly vet candidates, here are six things to consider trying when you are looking for your next employee.
At some point in our careers, many of us will be promoted to management. Getting promoted to management in most cases means that we are now in charge of managing people. Very seldom are people totally prepared for what it takes to manage a group of people with different personalities, goals, challenges, and attitudes.
Businesses always need help. Whether they are small, mid-size, or large, they all need help on occasion and that help or expertise is not always available in-house. If you’re a small business, you will probably need more help, and in more areas than mid-size or large companies, because small businesses have only a few people managing many different areas.
Over the years, I have taught a Career Transition Workshop to many people in many different venues in addition to doing personal career coaching and utilizing a Career Direct assessment to help match people’s personalities, interests, natural talents, and values to career paths that best suit them. My experiences over the last 15+ years have given me a good idea of best practices to help shorten the time in transition.
“The definition of insanity is doing the same thing over and over and expecting different results.” – Ben Franklin
If your job search is not going so well, perhaps it’s time to take a look at some areas that might help shorten your time in transition.
We have all hired new employees from time to time in our careers. We have probably also let employees go or have had employees quit for better opportunities. In either case, we have to replace the person who left. Very seldom, if ever, do we think about what that costs.