Marc Benioff, founder and CEO of Salesforce once said:
“Acquiring the right talent is the most important key to growth. Hiring was – and still is – the most important thing we do.”
The importance of taking the right decision while hiring cannot be emphasized enough. Hiring decisions start from the moment you receive that impeccable resume from a potential candidate. What follows is a series of steps, each involving crucial decisions that take you closer to recruiting the ideal candidate.
Crucial questions need to be answered for each candidate that is assessed:
Do the candidate’s stated skills match the requirements for the role?
Is the candidate’s performance in a specific interview round good enough for consideration for the next round?
Should the candidate make it to the shortlist?
Based on the candidate’s longevity at previous organizations, how long is the candidate likely to stay at the company?
… and several more.
Recruiters often fumble while trying to figure out the answers to several of these decisions involved in recruitment.
Impact of a bad hiring decision
The impact of an unsuitable hire can be quite detrimental for the team the employee is part of, and, in turn, for the larger organization. As per the U.S. Department of Labor, the price of a bad hire is at least 30 percent of the employee’s first-year earnings. A candidate who does not fit your organization increases the workload on the rest of the team and is a drain on the entire team’s morale. This affects the productivity of other team members. A bad hire, the proverbial Rotten Apple, might cause other employees to feel disengaged and go looking for better opportunities elsewhere.
Employees need to thrive. Else they will just be adding to the numbers that the Great Resignation is clocking up. Make the right hiring decisions to retain talent that matters.
You might think that had more time been spent on assessing a hire, the sorting process would have weeded the bad ones out. However, the clock is always ticking.
In these days of shortage of top talent, recruitment involves making a series of quick decisions. A delay in decision making could result in the potential employee joining a rival company. At the same time, a decision that is taken in a hurry could result in an outcome that is less than optimum.
Tall order then? Always take the right decision and take it quickly too?
Decision making software to the rescue!
Decision-making software can aid recruiters in the hiring process, especially when vital decisions need to be taken quickly and efficiently. A multi-criteria decision-making software like TruthSift allows recruiters to work with hiring managers in parallel, so decisions are made in realtime. So the next steps can be defined and followed through instantaneously.
Make fair and equitable hiring decisions.
When humans are involved in hiring, there are high chances of conscious or unconscious biases that sway hiring decisions. Decision support systems do away with this human flaw and help make the best decision based on specified criteria without letting prejudices creep in. The software improves decision quality and enables your organization to hire the best and the most suited applicant.
Make decisions that prove to be cost-effective in the long run.
Relying on decision support software can help hiring teams consistently make the best hiring decisions as well as cut down on the costs incurred during the hiring process. When candidates with the right skills are matched with appropriate job profiles, their satisfaction at the job rises, increasing the probability of a long-term tenure with the organization.
TruthSift is an innovative software that enables you to evaluate choices and also explain your choices to others. Learn more about how TruthSift can streamline your hiring process – Contact Us for a demo