Is Hiring the Cheapest Candidate a Wise Decision?05/02/2019
Hiring the cheapest job candidate is not always the wisest decision. Attempts to help the bottom line may fail miserably and cost you more. Human Resource advisers agree on the benefit of using the following decision-making factors:
- Identify the level and range of skill that is central to the position.
- Assess internal supports for orienting and training for the position.
- Follow through thoroughly with the hiring process.
Job Candidate Skill Identification
Review the particulars of the position in question. Does it require multi-faceted, high level skills, or those that are task-oriented functions?
- High level skills and performance traits include:
- Critical thinking
- Discerning judgment
- Innovation and creativity
- Sophisticated communication
- A willingness to take well-informed risks
- Task-oriented performance involves:
- Tasks completed according to procedure and process
- Following direction, offering suggestions as requested
- Preference for low to moderate risk situations
Assess Internal Training Supports
Sophisticated supports need to be in place when hiring the cheapest candidate for a position requiring high level skills. These include:
- Internal mentoring
- Internal or external skill development options with specific timelines for performance achievement
- Factoring in costs associated with supports
It All Comes Down to the Interview
It pays to keep your mind open with this decision! Consider these factors as you review candidates and conduct interviews:
- Assess a seasoned professional’s ability to adapt to your business philosophy and processes.
- Assess a candidate with emerging skills for enthusiasm, energy, and interest in learning to grow within your organization.
- Ask carefully framed questions to learn about added assets all candidates offer—those beyond the listed qualifications.
- Leave room for candidates to ask questions and listen carefully. These can reveal each candidate’s true interest in the position and your organization.
- Contact all references, listening for signs of potential or red flags.
You are Ready to Make a Wise Hiring Decision
You have carefully followed all the steps needed to make this decision.
- Trust your hiring expertise as you proceed.
- Discuss pros and cons of each candidate with appropriate managers.
- Work up a financial analysis of top candidates to aid with objectivity.
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