Your best sales executive just submitted her resignation. This salesperson was consistently outperforming everyone in your organization and contributed 35% of your company’s annual revenue. You know that leaving a position open for any length of time can lead to decreased productivity, overstressed employees, loss of revenue, and an overall sense of discontinuity. However, filling the job with the wrong person could be worse.
A recent study done by CAP found that the average cost to replace a midrange salary employee (earning $30,00-$50,00 per year) is equal to 20% of the employee’s annual salary. For example, the cost to replace an employee making $50,00 per year would be $10,000. Jobs that require a higher level of education and skill set often have even higher turnover costs.
What are some measures that you can take to ensure that you aren’t wasting valuable time and resources throughout the hiring process? How do you go about securing candidates that are top performers and who coincide with your company culture and core values?
- Write Succinct and Powerful Job Descriptions
69% of HR managers say incorrect job descriptions result in wasted time, leading to hiring candidates with the wrong skills.
Iain Fitzpatrick, VP at Hay Group, stressed the importance of writing engaging and accurate job descriptions when he pointed out that incorrectly written job descriptions result in recruiting the wrong people, leading to staff turnover and underperformance. Conversely, taking the time to compose excellent job descriptions can attract amazing candidates who know what to expect and how to make a positive impact. If you want a great team, it is important to take the time to write great job descriptions.
Why are incorrect or poorly worded job descriptions so common? Insight Talent Solutions’ Principal Consultant, Sandra Smith, consistently noticed that, “Most managers hate writing job descriptions and avoid it like the plague. Many hiring managers are crunched for time and tend to default to recycling the same job descriptions over and over again while inserting a laundry list of technical skills seeking the jack-of-all-trades who, in reality, would be the master of none. With this kind of shotgun approach, you’ll turn good candidates who are dedicated to their professional expertise off, and they’ll simply walk away.”
How can you create job descriptions that are guaranteed to attract the right candidates? Research shows the best way to write succinct and powerful job descriptions is to:
- Utilize an Online Job Survey
The McQuaig Job Survey is a tool that helps anyone responsible for hiring accurately define the behavioral requirements for any job at any level. It will empower managers and recruiters by generating a profile of your ideal candidate. It’s simple and fast. In addition, it will generate a list of interview questions that will allow the interviewer to be able to screen for specific qualities. The results are a stronger candidate slate and less guesswork.
Sandra Smith, a certified McQuaig System Evaluator, stated that, “In my experience, the clients who have conducted the surveys have been extremely confident and satisfied with the entire interview process and have been impressed with how seamlessly the candidates fit in with their company culture after hire.”
How it Works
The McQuaig Job Analysis consists of 6 reports for each person who participates in the survey, while the Job Survey provides a detailed profile and customized behavioral interview questions. Completing the assessment also sets up the system so that it provides role-specific interview questions for each candidate by comparing their profile to the job. It also enables the system to provide a “Level of Fit” rating against every candidate who completes an assessment.
Benefits of the Job Survey:
- Creates consistency when recruiting.
- Establishes the behaviors you want in a role.
- Includes customized behavioral interview questions.
- Allows managers to easily identify candidates best suited to the role.
- Create an Excellent Corporate Culture
“Corporate culture is the only sustainable competitive advantage that is completely within the control of the entrepreneur” ~ David Cummings, Co-Founder of Pardot
Is creating an excellent corporate culture a priority for you? A 2016 study from Duke University’s Fuqua School of Business revealed that over half of the executives surveyed say corporate culture drives profitability and contributes to a company’s ability to thrive in the modern business world.
Additionally, a Columbia University study showed that the likelihood of job turnover at an organization with rich company culture is a mere 13.9%, whereas the probability of job turnover in poor company cultures is 48.4%.
Here are a few ways that you can create an excellent corporate culture:
- Understand the “why” of your company. Think about your mission and why it inspires you and then share that passion and inspiration with everyone around you.
- Make effective and open communication a priority.
- Empower your employees and give them a sense of freedom vs micromanaging them.
- Assign a person or committee to oversee company culture so that it remains a priority.
- Partner with a Recruitment Company
The Bureau of Labor Statistics predicts that the unemployment rate will continue to decline from 4.3% in 2017 to 4.2% in 2018, with an overall projection of 20.5 million jobs being created by 2020.
The best candidates are off the market in 10 days, making it crucial for you to act quickly and have a designated plan in place for when a position opens up in your company.
The best way to shorten the time it takes to hire someone is to have a pool of qualified people available when you need them, and the best way to acquire this is through the assistance of a recruitment company.
According to a 2015 survey conducted by Insight Talent Solutions, 54% of HR Leaders said that the best thing about using recruitment agencies is reduced time to fill. A good recruitment firm has the resources and commitment to efficiently locate the best candidate for your company. The result is more productive employees who will be with you for the long haul.
Through the practice of writing effective job descriptions, utilizing job surveys such as The McQuaig Job Survey, creating an excellent corporate culture, and partnering with a highly reputable recruitment firm, you will have peace of mind that the next time you have an open position, you can identify, hire, and retain high-performing employees for your organization.
About the Author
Amy Roesch is the Copywriter at Insight Talent Solutions. She uses her creativity and passion for writing to help develop Insight’s blogs, job descriptions, eBooks, white papers, and more. She enjoys researching current job-related trends to give professionals the tools they need to manage and improve their careers. Connect with Amy on LinkedIn!