In our last post we discussed the costs of recruiting and hiring the ideal senior candidate.
Here are some more ways to ensure you get the best possible result.
Increase productivity with job shadowing. I can tell you about the responsibilities of a high-level position, I can give you a written job description, but the best way to get management up-to-speed faster is with job shadowing.
A manager should shadow several key employees within her department to fully understand what each member of her team does, and perhaps spark some new ideas on how to do it better.
The shadowed employee should know the department policies and procedures, have an employee handbook in his desk, and be able to explain what a Form 12B-02 is used for. In other words, shadow a long-timer who knows how things really get done, which isn’t always written down in an employee manual.
The learning curve is a “bottom-line killer,” especially for smaller companies with less room for error. Even if your new VP has 25 years of experience in your industry, that VP doesn’t know where the paper clips are, or how to turn on the copier. It takes time to get up to speed.
The faster your new VP works at full capacity, the less it costs your company in recruitment and training.
Check references and background. You can call friends in the industry for a well-recognized new hire. If that’s not an option, talk to each reference an applicant lists.
Many candidates provide written references. Call those people, describe the duties of your position, and get the true story of a job candidate.
Do a background check. That’s right, a full, detailed background check. Has the applicant ever been in trouble? Isn’t that something you want to know before you hand him the keys to the company accounts? In some parts of the financial services industry it is compulsory.
Also pull credit checks from Veda and other credit reporting agencies, both here and abroad. A candidate may have a great report in Australia after leaving a trail of debt across the Pacific. A poor credit history reveals just how responsible a candidate is. A quality credit report is a good indicator of maturity and willingness to accept responsibility.
Be respectful. Sure, you have the job opening but, again, you need that person sitting across the desk from you – and you need her now. You’re losing money every day, and you’ll continue to lose money every day until you hire the right person and get her up to speed on how things work.
A highly qualified candidate will likely have his own set of questions regarding the company, and the position. Your interview is a give-and-take. Expect questions and answer them truthfully. The last thing you want to do is start off on the wrong foot with an important new hire so get on the same page.
Recruitment and hiring high-level management is almost always costly. A policy of hiring from within assures you know who you’re getting, but then that newly-promoted employee’s position has to be filled.
Keep your recruitment and hiring costs down by hiring the best, treating them well, and providing incentives to remain a key member of your company’s team.