Hire for Potential

As a small/medium sized business owner or leader, one of your many hats likely involves hiring. How successful have you been? Do you have a plan? Have you measured if that plan works? The statistics are staggering: 50% of new hires are no longer with their company after just 18-months. With the average cost of hiring an employee at $4,150, it will cost $8,300 to have an average employee stay more than 18-months (not including wages). Yet, most of us continue to hire based on the candidate‚Äôs current skill set, not for their potential. The main reason we hire for skills over potential is because the practice saves us time now, where hiring for potential is a long-term investment. Below are 4 reasons why you should consider hiring for potential. Reason #1: Skills can and will have to be taught, values cannot. When looking for talent, we believe skills are important, but not the most important criteria in the search process. Hiring for cultural fit (or add) is more […]