Managers’ Value of Time Depends on Hiring – OnlineBusinessDegree.org
Managers have a big responsibility: plan, direct, and coordinate various aspects of their businesses. But have you ever wondered how much time managers spend managing bad employees?
The answer: managers, on average, spend about 17% of their time overseeing poor performing employees, according to a national study developed by Robert Half International and conducted by an independent research firm.
The survey, which is based on responses from more than 1,400 chief financial officers (CFOs) of U.S. companies with 20 or more employees, found that poor hiring decisions greatly impact the entire company.
Sixty percent said that making a poor hiring decision somewhat affects the morale of the company, while 35% said it greatly affects morale.
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To help avoid bad-decision making while hiring, Robert Half International shared the following do’s and don’ts:
- Don’t go at it alone. Instead, do consult colleagues for their thoughts on needed attributes and competencies for the open position and work with a specialized recruiting firm to find the best candidates.
- Don’t rely on the Internet for all answers. Do reach out personally to network and recruiting resources. Though online tools are valuable, personal interaction is most important in the hiring process.
- Don’t take too long. Do extend an offer once you’ve found a top candidate. If companies don’t move quickly, they risk losing good people to other opportunities.
- Don’t offer a low salary. Do offer a compensation package that at least meets the market standard.
- Don’t fail to differentiate between must-have and nice-to-have attributes for candidates. Do identify the mandatory skills and those that can be developed. The goal should be to hire the person who is the best match for the job and work environment.
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