Hiring: How to get what you pay for

Hiring

Hiring: How to get what you pay for

It’s not uncommon for hiring managers and CEOs to feel dissatisfied with certain aspects of their labor department.  As the cost to employ an individual continues to rise, organizations are continually looking for ways to improve their return on investment. One of the biggest concerns is value, especially for companies just starting in the employer role.  So, how do you ensure you are getting the most value out of your employees, without causing burnout?

  1. Hire Appropriately

Although an obvious statement, this is one of the first, significant pitfalls organizations fall into. Hiring inappropriately usually happens in one of two ways.  A) you post a job that requires skill and experience, but you offer entry-level pay.  B) You hire one person to handle tasks and manage projects simultaneously.

Anyone who takes a job for less than a fair wage is either not very good, or has no idea how much work is being asked of them. You’ll likely end up in a position where you have to spend way more time than you should, teaching them how to do the job.  You might even have to pay someone else to redo the work. If you’ve ever had a talented candidate or freelancer begin working with you and then suddenly disappear, they were likely not clear on how much work you were expecting of them early on.

In the case of hiring an “all in one” employee, you are also not maximizing your dollars.  For example, if you hire a CPA and a higher per hour dollar amount, yet have them input receipts for thirty percent of their time, you are wasting your money. Instead, you can hire a part-time bookkeeper at a much lower rate and use a contract or temporary professional for your CPA needs.

The best way to avoid this is to create a detailed job description and evaluate the responsibilities.  Determine if the items listed should genuinely be one person’s responsibility or should it be split up into two different roles.  Then, asses the value of the position.

  1. Understand your Expectations

Not truly understanding their own expectations is one of the biggest mistakes new managers make. The ability to understand and articulate expectations is a vital element of setting a team up for success.  Managers typically have no issue providing a goal and a deadline.  The problem usually arises in the execution.

There are two extremes in managers.  The first is the micromanager.  No one wants to be a micromanager, so he or she will delegate responsibility with no real parameters or direction.  However, they soon find themselves hovering and redirecting the employee to use a specific methodology, without actually giving them the method.  If you already know how you want it done, then give your employees the procedure from the get-go.  This will save you a lot of time and energy.

The other extreme style of managing is the lack of actual management.  Creatives are notorious for this style.  Since they don’t like being restricted, they opt to not limit their team in any way either.  The trouble with this is there are very few creatives out there.  While no one likes to be micromanaged, most employees need direction.  Even if it’s as simple as successful examples from the past, some type of context is needed.  Otherwise, they are shooting in the dark.  Although there are times when you want your employees to be entirely imaginative, for most daily activities,  productivity and efficiency need to be a factor.

  1. Hire Slow

Hire slow, fire fast is a well-coined term in the human resource industry.  The question is how to put this catchphrase into action.  One of the easiest ways is to hire an employee in stages.  This means, using a freelancer or staffing agency to hire an individual on a temporary basis.  This allows you to assess their value before you make them a permanent offer.  Then, you can bring them on part-time until your needs change.  By the time you are ready to hire full time, you have had plenty of time to assess their skills and strengths and will know exactly what role to offer them.

For more interview tips see more of our blog posts!

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