When you post an open position, chances are the job needed to be filled yesterday. Since work is piling up fast, it’s easy to zero in on the first candidate with decent qualifications.
In the short-term, this probably works out just fine. However, this isn’t the key to lasting success. If you’re not hiring people fit to be part of your company’s future, you’re doing it all wrong.
Here’s why you need to start looking forward when choosing new employees.
Three Reasons to Hire for Long-Term Success
Save Time and Money
Bringing on a new team member is a lengthy and expensive process. You invest significant resources in each employee, so choose people worth your time and money — i.e., those who want to build a future at your company. This might mean choosing a candidate who isn’t necessarily the best skills fit at the moment, but has the personality and ambition needed to become a huge asset to your team in the future.
Build a Strong Knowledge Base
When an employee leaves, they take all the expertise gained at your company with them. Sure, they might write instructions for a few tasks, but that’s nothing compared with the vast amount of company-specific awareness gained while part of your team. No matter how talented their replacement is, there’s no way to transfer even a portion of this knowledge. This is a non-issue when you hire for long-term success, because you’re building a team designed to stay intact.
If your hiring efforts are focused solely on the now, your turnover levels are likely off the charts. It’s hard for employees to be part of a team that’s constantly changing, and this tends to have a negative impact on morale. When employees’ spirits are low, both productivity and quality of work take a hit, which directly impact your bottom line. Choosing people who want to build their career at your company, boosts morale by bringing together like-minded professionals excited to work together for a common cause.
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