How to Hire the Right Candidate for the Position
Developing a Business Perspective
According to the Saratoga Institute 1999-Human Resource Financial Report,the average cost of terminating an employee was $1,500.00. The cost to replace that employee was about $1,100 for a non-exempt employee and $9,000 for exempt employees. Those figures do not include the productivity lost while that position was vacant. That is why it is important for companies to attract and hire the best candidate for each position.
"Interviews are particularly useful for getting the story behind a participant's experiences." (Carter McNamara, MBA, PhD, N.D.) Since it is believed that interviews are an important part in choosing the right candidate, this paper will go over the key steps of an interview. There are certain steps that should be followed to make sure the most information is obtained during an interview. The following sections will explain recommended theories on what should happen before, during, and after an interview.
Before the Interview
Preparation is key. "Most companies react to hiring situations as emergencies; that might explain why so many do it so poorly." (Harvard Business Review; May2009) Before starting interviews, make sure there is a large pool of potential candidates to select from. The larger the pool, the greater the chances are in finding the right candidate. This can be achieved in a number of ways.
Recruiting for a position normally includes posting the opening internally to see if there are any current employees that are interested and qualified for the position. By posting internally, this also opens up options for referrals. With referrals,be cautious that employees aren't just suggesting their friends and family because they would prefer to work with them. Of course, a bad referral would reflect on the employee so most tend not to do that. Also with...