Confucius said, “Find a job you love and you will never have to work a day in your life.” But according to a 2014 survey from the job website, Career Builder Canada, only 37% of Canadian workers truly love their jobs, making successful recruitment more important than ever.
Many people find themselves in positions for which they have no aptitude and/or interest. And despite recruiters’ best efforts, hiring mistakes happen all the time. These mistakes are costly, as it takes an average of five months before a new employee really starts to add value and with a bad hiring decision, companies may lose an average of 15 times that person’s base salary. Moreover, disengaged and miserable employees are less productive, which is also an additional expense. In North America alone, the Management Journal’s semi-annual Employee Engagement Index reports that unhappy workers cost organizations more than $350 billion in lost productivity a year.
With today’s tight labour market, many companies put potential employees through multiple, rigorous interviews. This raises the question: Why do they still drop the ball in hiring?