Recruiting the Right Candidate is important for Organizational Growth and Development.
If you want to win the war for talent, you must make this fundamental move. You should not only hire candidates for right competencies but should be aware of the organizational competencies too.
An organization may have all the latest technology and the best physical resources, but if it does not have the right people at the right place it will struggle to achieve the results it requires. This is true across the whole spectrum of business industries.
“The achievements of an organization are the results of the combined effort of each individual.” – Vince Lombardi
Recruitment and development of Great Employees have created Fortune 500 Organizations like Google, Microsoft, IBM, Ford, and Coca-Cola.
Human Resource has become the neuron of a brain called the modern organization. They are the only valuable assets which if pruned efficiently will give you enormous benefit.
In today’s competitive marketplace, organizations must need to make sure they get value for money. Employing the wrong person for any job role is a costly mistake to make.
The wrong Hire affects organizational growth and development.
Look at the cost of the wrong hire, in case of Executive Search which affects organizational growth and culture:
- Loss of productivity – the annual salary of the executive
- Training costs – 25% of the annual salary of the executive
- HR costs – calculated using the average HR Generalist’s salary
- Interviewing, Recruitment and Selection & orientation costs
- Employment campaign costs for a new recruitment
- Productivity and sales loss of company
- Effect on team morale
- Effect on organization synergy
- Effect on Company’s branding due to turnover
How to recruit right employees who can aid organizational growth and development?
The Key to effective recruitment is to know completely the candidate’s abilities and competencies beforehand and then motivating the right job applicant at the time of Interview so that their brainwaves resonate the mission and vision of the company and work-culture.
“If a company is clear what factors make for consistently successful employees, that knowledge can be applied critically, enabling them to recruit to an objective benchmark moving forward.” – Editor, www.hrreview.co.uk
This can only be done through competency focused recruitment and selection process. Competency mapping of your organization is essential for delivering right hire every time.
Your organization must have a competency framework. If you are aware of your organizational competencies, then it’s easy to motivate and engage your employees to achieve company’s vision and mission.
An effective Job Competency Focused Recruitment and Selection will fuel Organizational Growth and Development in various ways by recruiting the right people.
Recruiting the Right Candidate Fuels Organizational Growth and Development in many ways:
Greater Cost-Saving Fuels Organizational Growth and Development:
Cost Saving is a major advantage of employing right candidate for the right job. Poor recruitment practices can result in financial losses.
For example, if a candidate’s competency is not accurately assessed, he may make mistakes that can affect productivity.
If he needs to be retrained or replaced, this eats up more company time, money and other resources that could have been invested towards other aspects of a business.
Retention of Employees Boosts Organizational Growth and Development:
Effective Recruitment decreases your company’s attrition turnover. When organizations choose the right people for the job, – train them well and treat them appropriately, these people not only produce good results but also tend to stay with the organization longer.
As a result, the organization benefits from cumulative learning curves. Better innovations fuel rapid organization growth curve.
Better Productivity Fuels Organizational Growth and Development:
Employees who stay in an organization for a longer period, feel dedicated to the organization. They will work hard to help a company succeed. They become organizational growth drivers.
Generally, these loyal employees will have a track record of striving for excellence, resulting in a more competitive, innovative and profitable business.
Great Reputation Builds Organizational Growth and Development:
When you effectively recruit and select the right employee, there is a domino effect.
Your new hire will stay for longer period. As a result, prospective applicants will view your company as a better place to work with.
This positive vibe will help you fish out exceptional talents from the pool of candidates because of better organizational culture.
Great employees will offer better productivity. This will affect the quality of your products or services, and ultimately, your customers’ perceptions of your company. Your organization will be recognized as a world-class brand. It becomes an organizational business growth cycle.
Sayak takes care of both recruitments and assessment projects of The HR Monks team. He loves helping people finding their dream job.
He started his journey in career leaving the shores of Waiting for Godot and found The HR Monks a better place, where he can change the lives of people by helping them achieve their dreams.
He has been to quite a fewer place across India and loves to travel. He loves two books, in particular, one Siddhartha by Herman Hesse and the other The Shift by Dr. Wayne Dyer.