The hiring process can be tough. After all, our team is our business’s strongest asset, and as such, is also one of our biggest expenses. With that much scrutiny, it’s no wonder that we try our hardest to calculate ways in making the right decision. However, this experience doesn’t have to be as terrible as you make it, especially when using something like SuccessFactors.
SuccessFactors can help you not only avoid a lot of common errors but can help you gain a leg up on your competition in bringing on the best team. And as most of us are out to compile a team that’s in things for the long haul, it’s important to have a set of procedures in place that will lead to the most success. That’s why I’ve compiled a few common things you can avoid by using SuccessFactors, check them out below:
Hiring Someone That’s Experienced Enough
Bringing on someone that’s a little too inexperienced not just in their position, but in the formalities and practices required by their role can be detrimental to your business. This includes simple things like replying poorly to an email or even not being able to handle the workflow process. However, with SAP’s talent pool, you’ll be able to define the terms of the experience that you’re after.
Bringing On Someone In It For The Long Haul
According to a survey by BambooHR, over 1/3rd of respondents had left their job within the first six months. Not only can be this be costly but can reflect poorly on morale within your team as well. And while we’re far from being able to accurately predict how long someone will stay at a position, having a proper vetting process is vital.
Streamlining Your Onboarding Process
In a study conducted by the Allied Workforce, over 30% of employees reported it takes a year or longer to get an employee up to full productivity. Now, while none of us expect an employee to grasp everything right off the bat, it’s important to consider how you effective your onboarding efforts actually are. Do you have specific goals and benchmarks? Noteworthy tasks? Consider assessing how these processes work within each other to be successful.
Reduce Cost of Bad Hires
Make no mistake; bad hires can be the catalyst force that might potentially tank your business. In a study by HumanLinks, a bad hire can cost as much as $240,000. Of course, this number varies per organization, but the general commonalities include time lost, recruitment, adverse impact on morale, lost customers, and even potential litigation. Yet, by using SuccessFactors to help weed out bad candidates, you can hire with ease.
Acquire a Large Enough Talent Pool
Talent forecasting can be a tough business. As the Korn Ferry Institute notes, over 29% of firms don’t have a talent plan in place, leaving them to just wing it at hopes of finding a fit. While this strategy might work for some, don’t bet on it- have a plan in place and base your talent pool around that to bring on the perfect fit.
Understanding Culture Is Key
Even though it’s one of the most talked about aspects of a business, a lot of companies have a tough time not only defining their culture but bringing on those that fit. According to a study conducted by Deloitte, 87% of companies cite culture engagement as one of their top challenges. Don’t let this be your organization- know what you’re about and who you’re trying to bring on, and the rest will fall into place.
Reward Those That Work Hard
Even though we like to credit job hopping to a sense of restlessness in career, a big portion of it actually falls in line with how much someone is getting paid. For example, in research by CR Magazine, 36% of people are willing to leave their job for a 20% increase in pay. Don’t let your good talent go to waste. With SuccessFactors, you can track and gauge onboarding, as well as the success of a candidate. And in assessing the long-term costs of employment, this will provide tremendous benefits for a good while.
Go After Quality, Not Quantity
It’s not enough to just post as many places as you can about a job; you have to target the specific places that you know will provide the best candidates. In a survey by Glassdoor, 48% of hiring managers stated that they don’t find qualified enough candidates for job postings. However, with SuccessFactors, you can not only target the specific places to look for folks, but the qualifications involved. And as people are our most valuable asset, the time you’ll save will make it well worth it in the end.