It’s difficult for companies to function when upper-level roles are left vacant. So, it’s understandable that many leaders are tempted to quickly fill those gaps by hiring the first candidate who appears qualified. But a “good enough” candidate can transform into a bad hire, leaving your organization worse off than you were before. In this article, we explore four reasons to hold off on extending a high-level offer until you’re certain you’ve found the right person.
Why it’s Worth the Wait for the Right Candidate
Save Time and Money on Hiring
The traditional hiring process is expensive and inefficient. From the money you spend on job postings and background tests to the time your leadership team spends reviewing applications and conducting interviews, hiring can eat up your budget and cut into your productivity. But rushing through the process only to hire the wrong person can be far more costly in the long run. Hiring the wrong top-level candidate means you’ll eventually need to start again from scratch, doubling the time and money you spend—not to mention additional turnover costs. You’ll only pay for a single hiring process when you hire the right person the first time.
Optimize Onboarding ROI
Onboarding a new employee also costs significant time and money. Even for top-level roles, it takes time for new hires to become familiar with your procedures, integrate themselves with your team, and reach full productivity. If they’re a great skill and culture fit, this isn’t a problem—their ROI will balance out their onboarding. But if they’re not the right candidate, your company will waste time and money trying to assimilate them into a role that doesn’t fit.
Preserve Your Company Culture
A new hire—particularly in a leadership role—can make or break your company culture. The correct candidate for a position is one who not only has the practical skills to do their job well but who has the personal qualities to fit in with and enhance the unique makeup of your organization. Conversely, the wrong candidate can foster resentment, discord, and negativity that can take your company months—if not years—to recover from.
Protect Your Reputation
In general, hiring for the same position multiple times within a relatively short time period reflects poorly on a company. But more pressingly, when employees don’t succeed or fit in well with an organization, they’re likely to harbor negative feelings toward that organization when they leave—and to share those feelings with others. Whether they’re eventually terminated or choose to leave themselves, the wrong hire might speak negatively about your company online and in person, damaging your reputation and standing within your industry. Even worse, they might share confidential company information, causing a nightmare scenario for your security and PR.
Hire Right the First Time Around
One of the best ways to hire the right candidate for top-level roles is to partner with an executive recruiting agency. The expert team at Augustine Talent Group can save your organization the time, money, and headaches that come with a bad hire, ensuring a quality candidate who will preserve your productivity, culture, and reputation. Contact us today to learn more about how we can support you in your search.